Socio-Economics History Blog

Socio-Economics & History Commentary

The West Begins To Panic Over China’s OBOR Trade System

  • X22Report Published on Sep 20, 2017
    Existing homes sales decline, this is the third month in a row. German gold expert reports that gold has been manipulated since 1993 by the central banks and the banking system. The West begins to panic over the One Belt One Road trade system. This new trading system is will be a vast network throughout Asia, Africa and Europe.

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

Putin Orders End to Trade in US Dollars at Russian Seaports

  • Putin Orders End to Trade in US Dollars at Russian Seaports
    by https://www.rt.com/
    Russian President Vladimir Putin has instructed the government to approve legislation making the ruble the main currency of exchange at all Russian seaports by next year, according to the Kremlin website.

    To protect the interests of stevedoring companies with foreign currency obligations, the government was instructed to set a transition period before switching to ruble settlements.

    According to 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.

    The proposal to switch port tariffs to rubles was first proposed by the president a year and a half ago. The idea was not embraced by large transport companies, which would like to keep revenues in dollars and other foreign currencies because of fluctuations in the ruble.

    Artemyev said the decision will force foreigners to buy Russian currency, which is good for the ruble. In 2016, his agency filed several lawsuits against the largest Russian port group NMTP. According to FAS, the group of companies set tariffs for transshipment in dollars and raised tariffs from January 2015 “without objective grounds.”

    The watchdog ruled that NMTP abused its dominant position in the market and imposed a 9.74 billion rubles fine, or about $165 million at the current exchange rate. The decision was overturned by a court in Moscow in July this year.
http://voiceofrussia.com/2013_07_26/Moscow-Beijing-taking-on-the-dollar-5431/

Click on image for article.

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September 21, 2017 Posted by | Economics | , , , , | 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

The US Pushes Trade War With China Threatening The World’s Trading System

  • X22Report Published on Sep 18, 2017
    The entire inflation meme that the Government and Central Banks are pushing is a lie. There is a pension storm headed our way and it’s going to be horrific. Jim Rogers warns that sanctions against NK and China are going to hurt the US. The US pushes its agenda and pushes a trade war with China threatening the world’s trading system. 

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

A US Trade War with China Will End US Monopoly on Global Financial System – Jim Rogers

  • A US Trade War with China Will End US Monopoly on Global Financial System – Jim Rogers
    by https://www.rt.com/
    If the Trump administration puts sanctions on China, this would hurt America more because it just forces China and Russia and other countries to cooperate, says investor and financial commentator Jim Rogers.

    US Treasury Secretary Steven Mnuchin warned on Tuesday that the US could impose economic sanctions on China if it does not implement the new sanctions regime against North Korea, saying that the restrictions could involve cutting off Beijing’s access to the US financial system.

    “If China doesn’t follow these sanctions, we will put additional sanctions on them and prevent them from accessing the US and international dollar system, and that’s quite meaningful,”
    Mnuchin said at the Delivering Alpha Conference in New York City.


    The UN Security Council unanimously approved a resolution banning North Korea’s textile exports and capping its oil imports following Pyongyang’s sixth nuclear test conducted last week.

    RT spoke to famous investor, author, and financial commentator Jim Rogers to discuss global perspectives in the case of the US imposing sanctions on China.

    RT: 
    What is the likelihood that the US will go through with and actually impose economic sanctions on China if it does not implement the new sanctions regime against North Korea?

    read more.

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September 18, 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

US Threatens China with Sanctions – But Is It All Bluster?

  • RT America Published on Sep 12, 2017
    Secretary Treasury Steve Mnuchin threatened China with sanctions of their own if they try to circumvent the harsh new UN sanctions on North Korea. RT America’s Manila Chan has the details.

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

US Threatens To Cut Off China From SWIFT If It Violates North Korea Sanctions

  • US Threatens To Cut Off China From SWIFT If It Violates North Korea Sanctions
    by Tyler Durden, http://www.zerohedge.com/
    In an unexpectedly strong diplomatic escalation, one day after China agreed to vote alongside the US (and Russia) during Monday’s United National Security Council vote in passing the watered down North Korea sanctions, the US warned that if China were to violate or fail to comply with the newly imposed sanctions against Kim’s regime, it could cut off Beijing’s access to both the US financial system as well as the “international dollar system.”

    Speaking at CNBC’s Delivering Alpha conference on Tuesday, Steven Mnuchin said that China had agreed to “historic” North Korean sanctions during Monday’s United Nations vote. “We worked very closely with the U.N.  I’m very pleased with the resolution that was just passed.  This is some of the strongest items.  We now have more tools in our toolbox, and we will continue to use them and put additional sanctions on North Korea until they stop this behavior.”

    In response, Andrew Ross Sorkin countered that “we haven’t been able to move the needle on China, which seems to be the real mover on this, in terms of being able to apply the real pressure. What do you think the issue is?  What is the problem?”

    The stunner was revealed in Mnuchin’s answer: “I think we have absolutely moved the needle on China.  I think what they agreed to yesterday was historic.  I’d also say I put sanctions on a major Chinese bank.  That’s the first time that’s ever been done.  And if China doesn’t follow these sanctions, we will put additional sanctions on them and prevent them from accessing the U.S. and international dollar system.  And that’s quite meaningful.”

    read more.

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

US Threatens to ‘Cut China Off’ from Dollar If It Does Not Uphold Sanctions Against N. Korea

  • US Threatens to ‘Cut China Off’ from Dollar If It Does Not Uphold Sanctions Against N. Korea
    by https://www.rt.com/
    The US could impose economic sanctions on China if it does not implement the new sanctions regime against North Korea, the US Treasury Secretary has warned. Steven Mnuchin said the restrictions could involve cutting off Beijing’s access to the US financial system.

    “North Korea economic warfare works,”
     Mnuchin said Tuesday at the Delivering Alpha Conference in New York City. “We sent a message that anybody who wanted to trade with North Korea – we would consider them not trading with us.”

    The Treasury Secretary echoed the words of the US envoy to the UN, Nikki Haley, by calling the fresh round of sanctions against Pyongyang “historic.”Mnuchin added “if China doesn’t follow these sanctions, we will put additional sanctions on them and prevent them from accessing the US and international dollar system.”

    Washington has, so far, been reluctant to impose economic sanctions on China over concerns of possible retaliatory measures from Beijing and the potentially catastrophic consequences for the global economy.

    Washington runs a $350 billion annual trade deficit with Beijing. China also holds $1 trillion in US debt, which amounts to 28 percent of US Treasury bills, notes and bonds held by a foreign government.

    US lawmakers, however, seemed to be more inclined to exert pressure on Beijing and other countries striking deals with Pyongyang as they demand a “supercharged” response to North Korea’s nuclear tests, including imposing sanctions on companies from China and any other country doing business in North Korea.

    “I believe the response from the United States and our allies should be supercharged,”
     said Ed Royce, chairman of the House of Representatives Foreign Affairs Committee during a hearing Tuesday.


    “We need to use every ounce of leverage… to put maximum pressure on this rogue regime,”
     he said, adding that “time is running out.” Royce also called on Washington to target major Chinese banks, including the Agricultural Bank of China and the China Merchants Bank for dealing with Pyongyang.


    read more.

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

Venezuela Plans to Drop US Dollar in Trades

US-Pentagram: “It’s time to invade Venezuela … urr.. I mean attack those terrorists in Venezuela to liberate the country from their dictators, for peace, democracy, freedom, apple pies … and liberty fries …”

  • PressTV News Videos Published on Sep 9, 2017
    The Venezuelan government says it will sell oil, gas and other products in currencies other than the US dollar to counter US sanctions.

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

“Unloading Dollar Assets Would Be Most Effective” – Chinese State Media Unveils Trade War ‘Countermeasures’

  • “Unloading Dollar Assets Would Be Most Effective” – Chinese State Media Unveils Trade War ‘Countermeasures’
    by Tyler Durden, http://www.zerohedge.com
    After President Trump declared “economic war” with China, seemingly followingBannon’s strategy to maintain hegemony… 

    “We’re at economic war with China,” 
    he added. “It’s in all their literature. They’re not shy about saying what they’re doing. One of us is going to be a hegemon in 25 or 30 years and it’s gonna be them if we go down this path.

    Bannon said he might consider a deal in which China got North Korea to freeze its nuclear buildup with verifiable inspections and the United States removed its troops from the peninsula, but such a deal seemed remote. Given that China is not likely to do much more on North Korea, and that the logic of mutually assured destruction was its own source of restraint, Bannon saw no reason not to proceed with tough trade sanctions against China.

    “To me,” Bannon said, “the economic war with China is everything. And we have to be maniacally focused on that. If we continue to lose it, we’re five years away, I think, ten years at the most, of hitting an inflection point from which we’ll never be able to recover.”

    China state media immediately signaled the nation would hit back against any trade measures,
     as it has done in past episodes, and now, thanks to a treatise in Chinese official mouthpiece, China People’s Daily newspaperwe have an idea of what those countermeasures could be…

    read more.

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August 28, 2017 Posted by | Economics, GeoPolitics | , , , , , , , , , , , | Leave a comment

‘Insane, Confrontational Policy’: Russia & China Balk at New Sanctions

  • Published on Aug 22, 2017
    Tensions continue to rise between North Korea and the US, both countries calling out each other for belligerence at a United Nations forum on nuclear weapons on Tuesday. RT America’s Ashlee Banks reports on the world-imperiling spat. The US also rolled out new sanctions against Russian and Chinese entities and individuals with ties to North Korea, a move condemned by both countries.

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August 25, 2017 Posted by | Economics, GeoPolitics | , , , , , , | Leave a comment

A Furious China Responds To Latest Sanctions: Demands “U.S. Immediately Correct Its Mistake” Or Suffer Retaliation

  • A Furious China Responds To Latest Sanctions: Demands “U.S. Immediately Correct Its Mistake” Or Suffer Retaliation
    by Tyler Durden, http://www.zerohedge.com
    Less than 4 hours ago, the US Treasury announced that in the the latest set of actions targeting North Korea’s “WMD program”, among the entities sanctioned would be several Chinese and Russian companies and individuals. We said that “what this latest round of sanctions will achieve, is to further anger Beijing and the local population.” Well, we didn’t even have to wait all day for China to respond on the next morning as it traditionally does, and according to Reuters citing an embassy spokesman, Beijing was so furious with the US “provocation” it scrapped its own protocol of waiting during a “cooldown” period, and instead ripped right back, “urging” the U.S. to “immediately correct its mistake”‘ of sanctioning Chinese firms over North Korea, to avoid impact on bilateral cooperation.

    Since the US will not “correct its mistake”, either “immediately” or at any time, China will have no choice but to escalate, in the process making any credible diplomacy involving North Korea impossible, forcing” America’s hand when it comes to North Korea, now that the diplomatic option is out of the picture.

    read more.

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August 23, 2017 Posted by | Economics, GeoPolitics | , , , | Leave a comment

US Fires First Salvo of Upcoming Trade War with China

  • US Fires First Salvo of Upcoming Trade War with China
    by PETER KORZUN, https://www.strategic-culture.org/
    While the North Korean nuclear program and its missile tests capture the world public attention, another war is about to spark. On August 14, US President Trump launched the first salvo by authorizing an inquiry into Beijing’s alleged theft of intellectual property under Section 301 of the Trade Act of 1974. This is the first direct trade measure by the administration against China.

    Washington believes that American companies operating in the Celestial Empire are pressured into sharing intellectual property if they want to have access to China’s economy. American businesses are often forced to create joint ventures with Chinese partners, turning over valuable technology assets. «We will stand up to any country that unlawfully forces American companies to transfer their valuable technology as a condition of market access. We will combat the counterfeiting and piracy that destroys American jobs», Trump said.

    During his election campaign, President Donald Trump threatened to impose 35% to 45% tariffs on Chinese imports to force China into renegotiating its trade balance with the United States. US Trade Representative Robert Lighthizer will have a year to look into whether to launch a formal investigation of China’s trade policies on intellectual property, which the White House and US industry lobby groups say are harming US businesses and jobs. Trump administration officials have estimated that theft of intellectual property by China could be as high as $600 billion.

    The bilateral US trade deficit with China approached US$350 billion in 2016, and Trump has repeatedly blamed Chinese imports for gutting employment in US sectors such as steel. «We will engage in a thorough investigation and, if needed, take action to preserve the future of US industry», Lighthizer said.

    read more.

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August 23, 2017 Posted by | Economics, GeoPolitics | , , , | Leave a comment

US President Orders Probe into China Trade Ties

  • Published on Aug 15, 2017
    The US President has signed an executive order to launch a probe into whether China’s actions are harming the intellectual property of American companies. Donald Trump says the move is aimed at fulfilling his campaign promise regarding the country’s trade with China. Trump said Washington will combat QUOTE counterfeiting and piracy that destroy American jobs. He also pledged to safeguard copyrights, patents, trademarks and trade secrets from now on. The American president warned of retaliatory actions to preserve the future of U-S industry. China has already warned Washington about the consequences of a trade war, saying everybody would be affected. On Monday, a Chinese Foreign Ministry Spokesperson said the two countries should work together for the stable and sound development of economic relations.

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August 16, 2017 Posted by | Economics | , , , | Leave a comment