Monday, September 23, 2019

‘Vaguely Troubling’: BIS Warns Of Financial Disaster Amid $17 Trillion In Negative-Yield Debt

from ZeroHedge:

When the central bank for central banks publishes its quarterly review, the world should take note.

Claudio Borio, Head of the Monetary and Economic Department at the BIS, published the BIS Quarterly Review, September 2019 on Sunday, revealing how the increasing acceptance of negative interest rates has reached “vaguely troubling” levels.

The statement comes after the Federal Reserve and European Central Bank (ECB) cut interest rates to flight a global manufacturing slowdown — Borio said that the effectiveness of monetary policy is severely waning and might not be able to counter the global downturn, in other words, JPMorgan Global Composite PMI might print sub 50 for a considerable period of time.

The Mainstream Media Says The Middle Class Isn’t Shrinking – But That Is Only Because Their Definition Includes Lots Of Poor People

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by Michael Snyder, The Economic Collapse Blog:

If you ask the mainstream media, they will tell you that about half the country is still middle class.  In fact, a CNBC article that just came out says that “52% of American adults live in ‘middle class’ households”.  Of course that is down from 61 percent in 1971, but considering everything we have been through in recent years, that still looks pretty good.  But is it the truth?  In the end, it all comes down to how you define “the middle class”.  If I defined the middle class as anyone that makes from zero dollars to a trillion dollars a year, then 100 percent of Americans would be considered “middle class” by that definition.  So we can’t just look at the final number they give us.  Instead, we have to dig deeper and find out how they came up with the number in the first place.

Dems Cook 10,500 Steaks While Lecturing Americans About Eating Less Meat

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by Cameron Cawthorne, The Washington Free Beacon:

Several Democratic presidential candidates will be attending an annual steak fry event, despite lecturing Americans about the need to eat less meat because of climate change.

The organizers of the Iowa Polk County Democratic Party’s annual steak fry will be grilling 10,500 steaks and 1,000 vegan burgers on 10 grills, during Saturday’s event. Some of the candidates will grill steaks themselves.

Democratic candidates recently participated in a CNN climate town hall, where multiple candidates discussed the importance of reducing meat intake. Sen. Kamala Harris (D., Calif.) called for the U.S. government to create incentives to eat less meat.

Swiss University Fights Fake Diplomas With Blockchain Technology

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by Joeri Cant, Coin Telegraph:

The University of St. Gallen in Switzerland is setting its sights on blockchain technology to fight fake diplomas, a type of fraud that has been on the rise globally in recent years.

Degree certification

According to a CNN Money Switzerland interview from Sept. 19, the University of St. Gallen has announced that it is introducing a blockchain-based pilot project to verify the authenticity of its degrees in a matter of seconds rather than several days. The university’s CIO Harald Rotter said:

NEW: Disturbing Details About Facebook’s Orwellian “News Tab” Emerge

by Peter M. D’Abrosca, Laura Loomer:

Facebook is preparing to propagandize Americans with leftist news ahead of the 2020 election.

Disturbing new details about Facebook’s “News Tab,” which will be employed before the 2020 election and will surely be used to sway the election in favor of the plutocratic elites’ preferred candidate, have emerged this weekend.

According to an internal Facebook memo obtained by Neiman Labs, the Silicon Valley tech giant plans to have human editors curating the news stories that will appear on users’ timelines. The fact that those human news curators are called “editors” is another piece of evidence that points to the fact that Facebook is a “publisher,” not a “platform” for legal purposes.

If the Facts Come Out, it Could Spell the End for Joe Biden

by Ray McGovern, Consortium News:

The Establishment media is in a frenzy about what they hope will be the downfall of Trump, but if the facts come out, it could be the downfall of Joe Biden instead, writes Ray McGovern.

The Joe Biden-friendly Establishment media has mounted a full-court press to “prove” that Biden is, well, not a crook.

Bookie taken more bets Hillary ‘to be the Dem candidate than any of the other runners’

by Victor Skinner, The American Mirror:

There’s a lot of folks betting on Hillary Clinton as the 2020 Democrat presidential nominee, forcing a UK bookmaker to increase the odds of a rematch with President Trump to 20-1.

Clinton has risen to the seventh favorite for the 2020 nomination at Ladbrokes, a British bet maker, with new odds of 20-1 after a flood of bets predicting the former first lady will enter the presidential race.

“We’re baffled, to be honest,” Matthew Shaddick, head of Ladbrokes’ political division, told Newsweek. “We’ve taken more bets on her to be the Democratic candidate than any of the other runners.”

Microsoft chief: Rise of killer robots is ‘unstoppable’

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by Robin Pagnamenta, WND:

The rise of killer robots is now unstoppable and a new digital Geneva Convention is essential to protect the world from the growing threat they pose, according to the President of the world’s biggest technology company.

In an interview with The Telegraph, Brad Smith, president of Microsoft, said the use of ‘lethal autonomous weapon systems’ poses a host of new ethical questions which need to be considered by governments as a matter of urgency.

Saudi Arabia: Who is Responsible for Rising Tensions?

by Viktor Mikhin, New Eastern Outlook:

It is well known that on the night of 14 September some drones attacked two of the largest Saudi facilities: one of them is an enormous oil processing site in Abqaiq (with a capacity of 7 million barrels per day), and the other the Khurais oil field with deposits of 20.1 billion barrels of oil, according to experts. An official spokesperson for the state company Saudi Aramco stated that the strike had reduced Saudi’s oil generating capacity by 5.7 million barrels per day. This accounts for 58% of all the oil produced by the Kingdom and approximately 6% of the global supply. Petroleum producers have noted that this is the first breakdown of this scale in the 70-year history of oil production in this country. Afterwards, a group of Yemeni insurgents (Houthis from the Shia Ansar Allah movement) claimed responsibility for the attack.

Danish and Swiss Banks to Charge Customers 0.75% Interest on Large Deposits

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by Mish Shedlock, The Maven:

Last week, Denmark’s central bank cut its deposit rate to -0.75%. Banks will pass this on to large customers.

Please consider Denmark’s Jyske Bank Lowers its Negative Rates on Deposits.

Jyske Bank said on Friday people with more than $111,100 in their bank accounts will be charged more for their deposits as it seeks to pass on some of the costs of recent rate cuts by the European and Danish central bank.