More International Banking updates

New BIS launches: "ISIH to focus on six themes: suptech and regtech; next-generation financial market infrastructures; central bank digital currencies; open finance; green finance; and cyber security."


When the EU economic model fails, what is the logical response to the EU? MORE EU! Brilliant.


"Sovereign spreads within the European Monetary Union (EMU) arise because markets price-in heterogeneous country fundamentals, but also re-denomination risks, given the incomplete nature of EMU. This creates a permanent risk of financial fragmentation within the area. In this paper we claim that political decisions that signal commitment to safeguarding the adequate functioning of the euro area influence investors’ valuations. We focus on decisions conducive to enhancing the institutional framework of the euro area (“EMU deepening”). To test our hypothesis we build a comprehensive narrative of events (decisions) from all documents and press releases issued by the Council of the EU and the European Council during the period January 2010 to March 2020. We categorize the events as dealing with: (i) economic and financial integration; (ii) fiscal policy; (iii) bailouts. With our extremely rich narrative at hand, we conduct event-study regressions with daily data to assess the impact of events on sovereign bond yields and find that indeed decisions on financial integration drive down periphery spreads. Moreover, while decisions on key subjects present a robust effect, this is not the case with prior discussions on those subjects at the Council level. Finally, we show that the impacts arise from reductions in peripheral sovereign spreads, and not by the opposite movement in core countries. We conclude that EU policy-makers have at their disposal significant “political space” to reduce fragmentation and gain “policy space”.


Spain's analysis on its move to the green economy is rife with stupidity.


  1. It's not green. Electric batteries require minerals mined by children.

  2. They're beginning to tell you - YOU'RE not green enough - "There is an installed energy infrastructure (in the energy-consumer side) in the Spanish economy that is not working at its maximum rated capacity" - this will usher in the need to track and trace everything you do at home, to make sure you're using the optimal amount of energy (i.e. control.) This was outlined in the Great Reset multiple times.

  3. The green economy being offered is the government led, centralised option. There is no opportunity to decentralise the power, even though, this COULD offer maximum decentralisation and liberty. But of course, this is not the goal.

  4. It is impossible to run the economy green. We need fossil fuels to power our standard of living. So, there needs to be a vast population cut, or a vast decrease in the standard of living.

  5. We are moving into a solar minimum - there will be no warming. Despite what NASA (the US government agency) tell you.

India's recovery is in digital - along with the West's. That's not our choice - its been made for us:


"With the exponential growth of digitisation and online commerce in India, the Reserve Bank has also directed its policy efforts to put in place a state of the art national payments infrastructure, while ensuring a safe, secure, efficient, cost-effective and robust payments ecosystem. The Reserve Bank is positioning itself to provide an enabling environment in which regulated entities are catalysed to exploit these new avenues, while maintaining and preserving financial stability. The regulated entities, on their part, need to strengthen their internal defences to identify emerging risks early and manage them effectively. Financial stability is a public good and its resilience and robustness needs to be preserved and nurtured by all stakeholders. We need to support economic revival and growth; we need to preserve financial stability."


QUICK COMMENT FROM ME:


The IMF and Bank for International Settlements print money out of nothing, or buy assets with printed money from central banks and hold leverage. That's it. It's a total racket and they hold so much power they are the true definition of gangsters. They have offered money to the central banks and governments throughout this "pandemic" on certain conditions. Who or what decides the conditions is a very good question - one you should most definitely investigate yourself.


I don't know who these rotten scum think they are but this is why we need to destroy the central bank culture that own our societies. They dictate the whole world. It's the greatest form of centralisation we have ever seen. Whatever they decide, affects everyone - that's not a wise position to be in. Join me in calling to eradicate this cartel.