GeoEconomics

let me start by saying: Thanks! To Edward Snowden and all investigative journalists that took the risk to help him.

Thanks to all involved.

comment:

Before-Snowden – people using the internet – could not imagine that governments was looking over their sholder 24-7 and recording every button they press.

Now Snowden has delivered the proof on the encrypted laptops he gave out to several Journalists – many of them too afraid to touch the material.

Without Snowden – the thought – that all our communications is recorded – maybe even FOREVER – and analyzed to build as he said “perfect histories” of people – of course – in order to track and hunt dissidents like the Nazis did with the Jews.

It also shows how corrupt and rotten to the core many of the so called democratic institutions – the beacon of civilization – the USA and other Western Nations – have become.

They are (largely digital finance) dictatorships with democratic painting.

Snowdens “left and right converge to authoritarianism” seems to give proof to that.

Shocking shocking shocking – what comes after democracy? More dictatorship?

Does not sound like a step forward to me.

As you can see with Assange now in held in prison and treated and probably tortured like a “terrorist” without ever planting a bomb shows the plot – label anyone against “the system” a terrorist – human rights do not apply to terrorists.

“Would US-gov (John Kerry (Skull and Bones 1966)) have grounded my passport in Ecuador – the CIA would have it much easier to catch me – but they grounded me in Moscow, Russia.

So Russia had the unique opportunity to do the right thing by doing nothing”

source: https://www.democracynow.org/2019/9/30/edward_snowden_us_surveillance_corporate_america

The Book: Permanent Record

please DO NOT BUY IT ON AMAZON!

https://www.abebooks.com/9781250237231/Permanent-Record-Edward-Snowden-1250237238/plp

Links:

project: “Stellar Wind” (or “Stellarwind“) violating the US constitution on a daily basis: code name of a warrantless surveillance program begun under the George W. Bush administration‘s President’s Surveillance Program (PSP).[1]

https://en.wikipedia.org/wiki/Stellar_Wind

https://www.democracynow.org/topics/edward_snowden

https://en.wikipedia.org/wiki/List_of_Skull_and_Bones_members#1990s_to_present

https://www.politico.com/blogs/under-the-radar/2016/05/george-w-bush-white-houses-skull-and-bones-files-due-out-222858

… was about to post something funny here… but can not… this matter is too serious.

fire your kindle… fire your nest… fire Alexa… fire Siri… fire Google… fire Microsoft!

FUCKING NOW!

“Both the publication of the ifo business confidence index

https://www.ifo.de/node/45735
https://www.ifo.de/node/45735

(a survey among 9,000 German firms) and the statistics of incoming orders for the manufacturing sector at the beginning of September revealed a continuation of the economic downturn in Germany that cannot be ignored anymore.

The business climate dropped to 94.3 points – its lowest value since November 2012.

Incoming orders (see Figure 2 below) point to a severe weakness of investment.

These factors, amongst others, further strengthen the now widespread expectation that the Federal Statistics Office of Germany (Statistisches Bundesamt) will announce negative GDP growth for the third quarter of 2019.

Since this would mark the second consecutive quarterly contraction, it means that the German economy would be officially in a technical recession.

The recession in Germany comes at a time at which the only readily available instrument in the Monetary Union (EMU) to fight recessions, namely monetary policy, is not available anymore.

Moreover, German policymakers, the media, and professional economists have imprudently ignored the downturn, so that a discussion about appropriate countermeasures on the fiscal side remained silenced and valuable time was lost.

The repercussions for several fragile member states of the EMU, such as Italy and France, could turn out to be ominous.”

http://www.flassbeck-economics.com/a-sputtering-car-goes-into-reverse-the-german-recession-and-its-consequences/

thanks all involved

global: https://www.statista.com/statistics/1032045/global-business-confidence-index/

Mario Marcel: High-level policy panel discussion on central bank digital currencies

Remarks by Mr Mario Marcel, Governor of the Central Bank of Chile, at the “High-level Policy Panel Discussion on Central Bank Digital Currencies”, OECD Global Blockchain Policy Forum, Paris, 12 September 2019.

Zaldivar on TEDx (in Spanish)

Central bank speech  |

19 September 2019
PDF full text

 (1,304kb)

|  11 pages

Disruptive technologies in Finance or “FinTech” are transforming the financial industry landscape, challenging traditional business models. These technologies have been able to address some gaps in the traditional financial industry that can be grouped into five categories: Access, Speed, Cost, Transparency, and Security.

Leveraging on open-source technologies and Smartphone penetration, FinTech has seen fast adoption, disrupting all areas of the financial services such as payments, investments, savings & lending, insurance and risk management.

One example of the innovation across different financial services is this research framework from the World Economic Forum. Fintech innovations are identified and grouped into clusters, which in turn are a result of innovation triggered by common themes that cut across financial services. These themes are enabled by different technologies.

src: https://www.bis.org/review/r190919d.htm

pdfs:

https://www.bcentral.cl/documents/20143/31860/mmc12092019.pdf/79f78b4a-0e6e-241c-93cc-4f4b240c1ce2?t=1568303613015

backup mirror: High-level Policy Panel Discussion on Central Bank Digital Currencies Remarks by Mario Marcel, Governor of the Central Bank of Chile mmc12092019.pdf

Chile: Capital flows and the migration of risks – the recent Chilean experience

Remarks by Mr Mario Marcel, Governor of the Central Bank of Chile, at the Session 4 “Next vulnerabilities: capital flows and the migration of risks to new corners of the financial system” at the High-level policy seminar on “Integration or Framentation? International Capital Flows in the Post-Crisis World”, arranged by the OECD and the Ministry of Finance of Japan, as Governance of G20 in 2019, Paris, 11 September 2019.

Central bank speech  |

19 September 2019
PDF full text

 (1,161kb)

|  12 pages

1. Issues for discussion

a. Which new sources of vulnerabilities are building up a decade after the 2008 crisis?

– Risks associated with the growing importance of non-bank lenders. In some EMEs, this may result in credit lending going informal due to a relatively higher cost in credit provision due to regulation.

– Risks that can emerge from a less developed financial infrastructures outside the regulatory perimeter.

– Risks attributed to disruptive FinTech activities, such as the development of crypto-assets markets, as well as cybersecurity issues.

– Risks and challenges associated with the changing nature of banks’ business model. In particular, those coming from the internationalization of banks’ activities.

b. How to better consider a cost-benefit framework for financial regulation, such as currency-based measures (CBM)?

– While the banking regulation and supervision arising from the 80s-banking crisis was restrictive in several ways, it was supported by sound monetary and fiscal policies.

src: https://www.bis.org/review/r190919c.htm

more from the Author:

Mario Marcel: Chile – the view from the Central Bank

Presentation by Mr Mario Marcel, Governor of the Central Bank of Chile, at the “Southern Cone & Andean Opportunities Conference”, arranged by JP Morgan, Santiago de Chile, 26 April 2017.

Central bank speech  |

27 June 2017
PDF full text

 (430kb)

|  11 pages

Current macroeconomic conditions and prospects in the monetary policy scenario

1. The last few months have brought mixed signals for the Chilean economy. On the one hand, 2016 ended in a low tone, with a slowdown in activity and inflation. A series of one-off events extended economic weakness into the first quarter of 2017, lowering forecasts for the year as a whole. On the other, the global outlook appears more favorable, both for the growth of trade partners and terms of trade. This suggests a gradual improvement of economic prospects for the Chilean economy which should be further supported by an expansionary monetary policy as long as inflation remains below target.

https://www.bis.org/review/r170627a.htm