Well first up do an objective scientific test. Wear some different socks, or thick cotton socks and see if it squeaks. Me, I wouldn't think it was the socks unless they are silk but testing is the way to find out.
Try wearing them with no socks, after all the very hip dudes rock the no socks and sexy ankles look.*
Is it one shoe squeaking or both? It's common for only one shoes to squeak.
Is it the shoes squeaking or the shoe and a particular floor surface?
Any leather on leather can squeak, more so if it's a bit dry. Try to narrow down where the squeak is coming from and give it a drink of conditioner.
Could evn be the stitching. Try conditioner around stitching.
The hardest squeak is when the inner layers of the bottom of the shoes are rubbing/squeaking inside.
Can you make it squeak by hand? And get a fix on what it is.
*its not really cool cats who wear no socks. It's only blahman and __PG__ who go sock less. They often meet after work and snag a footpath table just down from Amercian Tailors on Burke and seductively flash their ankles to passing women. They say they very often pick up based on the irrestible appeal of skinny hairy men's ankles. You could join them, you'll recognize them, they will be the blokes with smelly shoes and drinking imported beer from bottles with a lemon in the top and constantly looking in the shop window to adjust their pocket hankies.
Thanks for your help!
So far, the talcum powder didn't work.
I will need to sit down tomorrow night muck around for a bit and see if i can get the shoe to squeak by hand...