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Financial Criminality: Wall Street Manipulates Energy Prices, Gold … and Every Other Market!

https://larouchepac.com/20141222-3

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  • Financial Criminality: Wall Street Manipulates Energy Prices, Gold … and Every Other Market! 
    by Washington’s Blog, via http://www.globalresearch.ca/ 
    Energy Prices Manipulated
    The U.S. Federal Energy Regulatory Commission says that JP Morgan has massively manipulated energy markets in  California and the Midwest, obtaining tens of millions of dollars in overpayments from grid operators between September 2010 and June 2011.

    Pulitzer prize-winning reporter David Cay Johnston notes today that Wall Street is trying to launch Enron 2.0:

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    The price of electricity would soar under the latest scheme by Wall Street financial engineers to game the electricity markets.
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    If regulators side with Wall Street — and indications are that they will — expect the cost of electricity to rise from Maine to California as others duplicate this scheme to manipulate the markets, as Enron did on the West Coast 14 years ago, before the electricity-trading company collapsed under allegations of accounting fraud and corruption.
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    The test case is playing out in New England. Energy Capital Partners, an investment group that uses tax-avoiding offshore investing techniques and has deep ties to Goldman Sachs, paid $650 million last year to acquire three generating plant complexes, including the second largest electric power plant in New England, Brayton Point in Massachusetts.
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    Five weeks after the deal closed, Energy partners moved to shutter Brayton Point. Why would anyone spend hundreds of millions of dollars to buy the second largest electric power plant in New England and then quickly take steps to shut it down?
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    Energy partners says in regulatory filings that the plant is so old and prone to breakdowns that it is not worth operating, raising the question of why such sophisticated energy-industry investors bought it.
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    The real answer is simple: Under the rules of the electricity markets, the best way to earn huge profits is by reducing the supply of power. That creates a shortage during peak demand periods, such as hot summer evenings and cold winter days, causing prices to rise. Under the rules of the electricity markets, even a tiny shortfall between the available supply of electricity and the demand from customers results in enormous price spikes.
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    With Brayton Point closed, New England consumers and businesses will spend as much as $2.6 billion more per year for electricity, critics of the deal suggest in documents filed with the Federal Energy Regulatory Commission.
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    That estimate will turn out to be conservative, I expect, based on what Enron traders did to California, Oregon and Washington electricity customers starting in 2000. In California alone the short-term market manipulations cost each resident more than $1,300, a total burden of about $45 billion.
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January 6, 2015 Posted by | Economics, GeoPolitics | , , , , , , , , , , , , | Leave a comment

As Japan Opens, Nikkei 225 Down Over 500 Points From Overnight Highs – Below 17,000!

Global financial storm is coming!

Global financial storm is coming!

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January 6, 2015 Posted by | Economics | , , , | Leave a comment

Peter Schiff & Alex Jones: Is This The Final Bubble Before Total Collapse?

  • Published on Jan 2, 2015
    Alex Jones talks with Peter Schiff about what he thinks is coming for America and what he feels will happen once this latest bubble bursts.

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January 3, 2015 Posted by | Economics, GeoPolitics, Social Trends | , , , , , , , , , , , , , , , , , , , , , , , | Leave a comment

Rick Ackerman: Dot-Com Style Crash Coming!

  • Rick Ackerman: Dot-Com Style Crash Coming! 
    by Greg Hunter’s USAWatchdog.com
    Financial analyst and newsletter writer Rick Ackerman is no stranger to contrarian calls.  At the beginning of 2014, he said forget about rising interest rates because they were going down.  They did.  Now, Ackerman predicts rates will go lower and will stay low for a long time.  Ackerman explains, “My perspective is that of a deflationist, and it’s been easy for me to see.  Even though we have inflation in certain things . . . the much bigger picture is deflationary.  It is that huge $1 quadrillion edifice the central banks are fighting to keep from implodingSo, I am a deflationist and I see rates coming down.  My (2015) projection for the 30-year Treasury is 1.74%.”
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    Ackerman goes on to say, “There is a kicker there for U.S. debt paper in particular, and that is if everything should start to unravel globally, the USA would be perceived as the last man standing.  I think you would have that flight to quality, and I am going to put quality in quotes, but we definitely have that safe haven status that would make Treasuries a buy even if everything goes awry.”
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    On the effect of all the Fed money printing since the 2008 financial meltdown, Ackerman points out, “We certainly have pumped up asset prices, but it hasn’t really done much for the real economy.  You understand what happened in 2007 and 2008, and we are actually going back to the dot-com craze.  We are more pumped up right now than in dot-com times in terms of valuations.  So, you know there is a collapse out there somewhere.  Whatever pumping they are going to do is not going to work.  It’s not as though dollars get shoveled out of airplanes.  They only work in the financial sphere. . . Let me say also, when you talk about priming the pumps, that does nothing to meet real bills which are deflationary, including every pension that is offered by U.S. companies and the U.S. government.  There we are talking about real dollars, and we are not talking about real dollars when we are talking about monetization.”  Ackerman goes on to say that state and local governments cannot print money.  Thus, Ackerman contends, “They aggregate to numbers we can’t pay our way out of. . . . Those are essentially hugely deflationary forces in the pipeline.”
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January 3, 2015 Posted by | Economics | , , , , , , , , , , | Leave a comment

Russia Contagion Spreads To European Banks: French SocGen, Austrian Raiffeisen Plummet!

Global economic, financial and monetary collapse super storm is coming!

Global economic, financial and monetary collapse super storm is coming!

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December 17, 2014 Posted by | Economics | , , , , , , , , , , | Comments Off

Keiser Report: Oil Can Combust & Blow It All !

  • Published on Dec 16, 2014
    In this episode of the Keiser Report, Max Keiser and Stacy Herbert discuss the blood-bathing in the oil related markets – from the Dubai stock exchange to the West Australian fracking company gone bust to some of the highest paid jobs in America being laid off. In the second half Max interviews former banker turned independent media star, Brian Rose of London Real TV and Silicon Real. They discuss whether or not London can ever be a new Silicon Valley.

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December 17, 2014 Posted by | Economics | , , , , , , , , , , , | Comments Off

It’s Not Just Russia: Middle East In Freefall, Biggest Plunge In 6 Years!

Chart: Bloomberg

Chart: Bloomberg

  • Financial WW3 spreading throughout the world!
  • It’s Not Just Russia: Middle East In Freefall, Biggest Plunge In 6 Years! 
    by Tyler Durden, http://www.zerohedge.com, 16 Dec 2014 
    Dubai’s Financial Market General Index is now down 40% since the peak in oil prices in June this year. For now, only Qatar is clinging to gains year-to-date as the rest of the Middle Eastern equity markets give up 30-60% gains from mid-year and tumble to negative. Dubai and Abu Dhabi alone are down over 8% since Friday. Saudi Arabia is down 7.3% today – the biggest drop in 6 years. Saudi Arabia’s worst day in 6 years
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December 17, 2014 Posted by | Economics | , , , , , , | Comments Off

Turmoil Spreads: Ruble Replunges, Crude Craters, Yen Surges, Emerging Markets Tumbling!

  • Turmoil Spreads: Ruble Replunges, Crude Craters, Yen Surges, Emerging Markets Tumbling! 
    by Tyler Durden, http://www.zerohedge.com
    For those wondering if the CBR’s intervention in the Russian FX market with its shocking emergency rate hike to 17% overnight calmed things, the answer is yes… for about two minutes. The USDRUB indeed tumbled nearly 10% to 59 and then promptly blew right back out, the Ruble crashing in panic selling and seemingly without any CBR market interventions, and at last check was freefalling through 72 74 76, and sending the Russian stock market plummeting by over 15%.
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    It is so bad, US equity futures which had jumped earlier on hopes of more Chinese intervention following the latest disastrous Chinese PMI print, as well as a French manufacturing PMI beat (don’t laugh), are back to unchanged.
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    The latest rout continues to be driven by the relentless plunge in Brent which also continued crashing overnight to fresh 5 year lows, sliding decidedly under $60 as WTI dropped well under $55 as well. And as we previewed over a month ago, it is not just Russia, but every single petroleum exporting country that is suddenly seeing a currency crisis, and spreading to all EMs with the Indian Rupee weakening the most since 2013, Indonesia lowering the Rupiah’s reference rate by the most on record, and so on. Ironically, this happens as the USDJPY is also crashing and dropping moments ago to 116.25, the lowest level since mid-November. At this rate the Fed will have no choice but to intervene, however in the opposite direction, and admit that despite all its best intentions, the US can not decouple from the rest of the world and a rate hike – so very priced in by everyone – is just no going to happen in the coming years (which sadly means that the latest subprime debt driven “recovery” is about to be called off).
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    A quick look at the oil market where Brent drops for 5th day, falls below $60 for 1st time since July 7, 2009 as the market continues to look for signs that falling prices is crimping production. WTI breaks below $55, drops to lowest since May 6, 2009.  “The race to the bottom continues, we are still not seeing any signs of supply disruption,” says Saxo Bank head of commodity strategy Ole Hansen. “There is very big negative momentum in the mkt and the fact people are starting to talk about breakeven levels of $35-$40 has put up a new red flag for mkts to aim at.… Jan. WTI options expire today and there is quite a lot of open interest ~$55 put strikes, that is probably the key level of potential support today.”
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    Not helping things was Russia’s announcement that it too like the Saudis will not cut production: Russia agrees with OPEC that market will determine crude price, Energy Minister Alexander Novak tells reporters at meeting of Gas Exporting Countries Forum in Doha, Qatar. Novak says that he met with OPEC energy ministers in Vienna; “The participants of that meeting concurred that the situation will be fixed by the market itself in terms of supple and demand balance.  Russia is not a country that changes its supply. We will maintain our production unchanged.”
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December 17, 2014 Posted by | Economics | , , , , , , , , , , , , , , , | Comments Off

Keiser Report: Debt Meteor Approaching Earth!

  • Published on Dec 13, 2014
    In this episode of the Keiser Report, Max Keiser and Stacy Herbert believe that ‘something’s gotta give’ as the real world continues to tumble while equity markets continue rising – and not everyone is ‘lovin’ it.’ They also compare the debt curse to the oil curse. In the second half, Max interviews equity crowdfunding pioneer, Simon Dixon of BankToTheFuture.com, about the latest in CrowdFunding 2.0 as both the political and financial space is disintermediated.
Global economic, financial and currency Armageddon coming!

Global economic, financial and currency Armageddon coming!

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December 15, 2014 Posted by | Economics, GeoPolitics, Social Trends | , , , , , , , , , , , , , | 1 Comment

“Some Market Folks Are Turmoiling…” As 6th Hindenburg Omen Spotted !!

Hindenburg_Omen_20141210

  • “Some Market Folks Are Turmoiling…” As 6th Hindenburg Omen Spotted!! 
    by Tyler Durden, http://www.zerohedge.com 
    The 6th Hindenburg Omen in 7 days… a confirmed cluster we have not seen in recent history…
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    Markets Turmoiled-er
    Following yesterday afternoon’s exuberant USDJPY-driven no volume levitation v-shaped recovery dead-cat-bounce (breathe), it was different today. Wherever one looks there is likely blood on the streets as the scale of moves today (and yesterday) dwarf recent historical moves. It would appear some counterparty risk concerns are being voiced quietly on desks too… as financials fear commodioty derivatives exposure.

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hindenburg-1937-granger

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December 11, 2014 Posted by | Economics | , , , , , , , | Comments Off

Veteran S&P Futures Trader: “I Am 100% Confident That Central Banks Are Buying S&P Futures”!

FD_Roosevelt-Letter_to_Colonel_House-Banksters_owned_US_government_since_Andrew_Jackson

  • Veteran S&P Futures Trader: “I Am 100% Confident That Central Banks Are Buying S&P Futures”! 
    by Tyler Durden, http://www.zerohedge.com 
    A Zero Hedge reader, and long-time futures trader, shares his views on the evolution of the “market”, where it was, where it is, and where it may be going.
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    I have been an independent trader for 23 years, starting at the CBOT in grains and CME in the S&P 500 futures markets long ago while they were auction outcry markets, and have stayed in the alternative investment space ever since, and now run a small fund.
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    I understand better than most I would think, the “mechanics” of the markets and how they have evolved over time from the auction market to ‘upstairs”.  I am a self-taught, top down global macro economist, and historian of “money” and the Fed and all economic and governmental structures in the world.  One thing so many managers don’t understand is that the markets take away the most amounts of money from the most amounts of people, and do so non-linearly.  Most sophisticated investors know to be successful, one must be a contrarian, and this philosophy is in parallel.  Markets will, on all time scales, through exponential decay (fat tails, or black swans, on longer term scales), or exponential growth of price itself.  Why was I so bearish on gold at its peak a few years back for instance?  Because of the ascent of non-linearity of price, and the massive consensus buildup of bulls.  Didier Sornette, author of “Why Stock Markets Crash”, I believe correctly summarizes how Power Law Behavior, or exponential consensus, and how it lead to crashes.  The buildup of buyers’ zeal, and the squeezing of shorts, leads to that “complex system” popping.  I have traded as a contrarian with these philosophies for some time.
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FedRes_banksters_looting_cartoon_Amateurs

Illuminist_banksters_creating_money_out_of_nothing_lending_n_charging_interest

https://socioecohistory.wordpress.com/2014/02/03/john-f-kennedy-we-are-opposed-around-the-world-by-a-monolithic-and-ruthless-conspiracy-secret-societies-rule-the-world/

Carroll_Quigley_Tragedy_n_Hope2

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November 24, 2014 Posted by | Economics, GeoPolitics | , , , , , , , , , , , | Comments Off

Bo Polny: Major Turnaround For Gold and Silver About To Happen!

Click on image to download MP3 interview!

Click on image to download MP3 interview!

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November 6, 2014 Posted by | Economics | , , , , , , | Comments Off

Andy Hoffman: Global Economy Has Collapsed !

  • Andy Hoffman: Global Economy Has Collapsed ! 
    by Greg Hunter’s USAWatchdog.com
    Financial analyst Andy Hoffman says the real global economy is in deep trouble, which is much to the chagrin of the Fed. Hoffman explains, “Recall last April, they started smashing gold and started with the ‘taper’ talk. The Fed figured by about this time, they’d be ready to start hiking rates. The fact is the global economy has collapsed. Our real economy has collapsed. Forget the fake PMI numbers or their ridiculous employment numbers. The economy of the world is getting worse and worse and worse.  No matter how hard they try to say yes, there is a recovery and we are tapering. Interest rates keep falling and falling. There are plunging rates despite all their talk of recovery and tapering.” Hoffman, who also has deep Wall Street experience, points to the recent sell-off in the stock market and the Fed’s reaction. Hoffman contends, “The Dow Jones propaganda average fell a whopping 9% from its all-time highs. The Fed absolutely freaked out. Within minutes, they had the Plunge Protection Team (PPT) running it back up, and no less than six Fed Governors in the space of three days came out and called for extension of QE and extension of zero-percent-interest-rates (ZERP). That’s how terrified they are, and remember, next week is when QE is supposed to end.”

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    Why is the Fed so terrified with even a relatively small market drop from all-time highs? Hoffman thinks, “Their fear is a loss of confidence in the dollar. It’s that simple. . . . Since 2008, all they have left in their arsenal is money printing, market manipulation and propaganda. The propaganda doesn’t work anymore. Nobody believes in recovery, and everyone knows it’s not true.” Hoffman also points out, “Just think about the perception if the Dow fell a thousand points in a day or, let alone, three or four thousand points in a day. They would call it the crash of 1929. Look at Europe. Twenty-five European banks failed the stress test. . . . The banking system, as a whole, is on the precipice right now, and the slightest drop will cause the whole 2008 calamity to start all over again. . . . Once that confidence leaves, everyone races out of currencies, and the stock market and the whole economy mirage collapses.”
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October 28, 2014 Posted by | Economics, GeoPolitics | , , , , , , , , , , , , , , , , | Comments Off

Next Market Crash Could Be The Worst In American History!

  • Published on Oct 23, 2014
    Alex Jones talks with expert economist Harry Dent about the economy and where it’s going.

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October 24, 2014 Posted by | Economics, GeoPolitics, Social Trends | , , , , , , , , , , , , , , , , | Comments Off

Michael Snyder: Permanent Damage to US Economy!

  • Michael Snyder: Permanent Damage to US Economy! 
    by Greg Hunter’s USAWatchdog.com
    Michael Snyder is a self-proclaimed “truth-seeker” and financial writer who says there is no recovery on Main Street, and we are not going to get one—ever.
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    Snyder contends, “We’ve had permanent damage to the U.S. economy. It’s kind of like going to the beach, and you build a sandcastle.  The waves start coming in, and the sandcastle is not going to be destroyed by the first wave.  Then, more waves will come in, and eventually the whole sandcastle will be wiped out.  That’s kind of what’s happening to the U.S. economy.  We’ve had waves of economic problems, and we have had permanent damage as a result.  Our economy is not totally destroyed yet, but we have permanent damage.  Now, new waves are on the way, which will cause more damage because of the long term trends.”  Snyder goes on to explain, “None of the long term problems that have been plaguing our economy have been fixed.  Instead, the Fed printed a bunch of money and pumped up the stock market.  It made people feel good, but the underlying fundamentals are not getting any better.”
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    On the nearly $18 trillion Federal debt, Snyder says, “This is a massive problem, but the mainstream media says the deficit is going down, and they have it under control.  That is actually not true.  It’s all accounting tricks and smoke and mirrors.  Actually, if you look at fiscal year 2014, which just ended, . . . the national debt increased by more than a trillion dollars.  What they tell you is the deficit was a little more than $400 billion, but that’s because they take all these things and say that doesn’t count as part of the deficit. . . . By the time President Obama’s eight years are over, we are on pace to approximately double the size of the national debt from $10.6 trillion to more than $20 trillion.  What we are doing is absolute insanity. . . . We are going to suffer the consequences for so much of this.  As far as the time window, I believe the next 12 to 15 months are going to be the most interesting time economically and as a nation as I have ever seen.”
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Where did the money go? Definitely not to the American people!

Where did the money go? Definitely not to the American people!

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October 23, 2014 Posted by | Economics, GeoPolitics, Social Trends | , , , , , , , , , , , , , , , , , , | Comments Off

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