Entire German Curve Drops Below Zero For First Time Ever

entire-german-curve-drops-below-zero-for-first-time-ever

02-08-19 12:56:00,

Somewhere, Albert Edwards is dancing a jig as the ice age he predicted will grip the world, appears to finally be here.

While global equities are sharply lower today following the end of the US-China trade ceasefire, it’s nothing compared to what is going on in the bond market, where one day after the 10Y US Treasury plunged a whopping 6% to 1.832% – the biggest one day drop since Brexit – to the lowest since the Trump election…

… the real show is in Germany, where not only did German 10Y Bunds tumble to the lowest on record, sliding to -0.503%, far below the ECB’s -0.40% deposit rate, the highlight was the plunge in 30Y yield, which today dropped below 0%…

… dragging the entire German yield curve in negative territory for the first time ever.

As such, Germany joined Denmark and Switzerland in offering negative returns across all maturities, and assuring losses to all investors should notes be held to maturity, taking the total stock of investment-grade debt yielding less than 0% above $14 trillion globally.

Enter “Japanification”: as Bloomberg notes, “the move will add to fears that the region’s economic slowdown is being driven by more structural factors akin to Japan’s lost decade”, which is ironic because not even Japan’s 30Ys trade negative. Germany’s bond market is widely perceived as being one of the world’s safest, with investors lured in by the liquidity and credit quality offered. Funds still looking to extract a positive return from European sovereign assets have been forced further out the yield curve or into riskier debt markets such as Italy. And as of today, anyone investing in German paper is guaranteed to lose money if holding to maturity.

“It underlines that the hunt for yield, or rather hunt to avoid negative yields, is accelerating day by day,” said Arne Lohmann Rasmussen, head of fixed-income research at Danske Bank A/S. “It just makes things more complicated.”

In addition to fears about a German recession sparked by the renewed Trump tariff threat, Germany’s bond market is also plagued by a problem of scarcity, with the government mandated by law to effectively maintain a budget surplus.

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Big tech ‘indenture entire populations into servitude’ to corporations & govts – Snowden

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14-07-19 09:53:00,

Tech giants such as Google or Facebook store vast amounts of personal data for their own gain but they are also “happy to hand over” this data to governments, making people vulnerable to persecution, Edward Snowden warned.

Any person can pretty much be sure that “everything you’ve done, everything you’ve typed into their search box, everything you have clicked on, everything you’ve liked” is duly recorded and stored in the enormous databanks of the big tech corporations, the NSA whistleblower said addressing the UK Open Rights Group Conference (ORGCON19) in London via a video link from Moscow.

“Your communications, as they happen largely today, don’t actually take place between you and the person that you are talking to. They happen between you and Facebook, who then provides a copy of it to the person you are talking to, or you and Gmail, who then gives a copy of it to the person that you are talking to and every time these transactions occur through these service providers, they keep a record of it.”

The corporations do that primarily to advance their own financial and economic interests, yet they seek to not only “better their class” but also to “better their state” and are, thus, more than happy to share the data they obtained with governments, which, in turn, make a use of it in its mass surveillance programs, Snowden warned.

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London proudly hosts press freedom forum, defends right to spy on journos in Strasbourg the same day

“We see that governments increasingly care less and less about compliance, and care more and more about power,” he said, adding that the governmental security structures, which were supposedly created to protect the people against the threat of terrorism, are in fact used against pretty much anyone from critically-minded journalists and dissidents to immigrants and minorities.

The corporations, which now virtually control the most part of internet communications, have been long abusing their position of power, forcing people into relations one would never “meaningfully consent to” while staying largely unaccountable.

The law simply has not caught up to the fact that a technological corporation now can indenture entire populations into servitude to the corporate good,

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If You Provoke the Entire World, Something May Happen | New Eastern Outlook

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05-07-19 07:25:00,

TRT5322

The United States believes that it is so invincible, exceptional and so frightening that no one would ever dare to protest, let alone defend its people against constant humiliation, economic embargos and military threats.

It used to be like this for quite some time. In the past, the West used to bully the world before and after each well-planned assault. Also, well-crafted propaganda used to be applied.

It was declared that things are done ‘legally’ and rationally. There were certain stages to colonialist and imperialist attacks: “define your goals”, “identify your victim”, “plan”, “brainwash your own citizens and people all over the world”, and then, only then, “bomb some unfortunate country back to the stone ages”.

Now, things are slightly different. “The leader of the free world” wakes up in the middle of the night, and he tweets. What comes from his computer, tablet or phone, (or whatever he uses), is spontaneous, unpolished and incredibly dangerous. Similar in substance to what made him wake up in the middle of the night, in a first place.

He does not seem to plan; he shoots off from the hip. Today, as I am writing this essay, he has declared that he has “five strategies for Venezuela”. Go figure. Bravo!

Earlier, as he was about to land outside London, he embarked on insulting the Mayor of the British capital, calling him names. A bit like we used to do to each other, when we were five years old, in the neighborhood playground.

He has been regularly offending Mexico, and of course Iran, China and Russia.

He basically tells the leader of the most populous nation on earth – China – to “be there”, at the G20 Summit, or else.

Whenever he and his lieutenants are in the mood, they get busy antagonizing everyone: Cuba and Nicaragua, DPRK and Venezuela, Bolivia and Syria.

Of course, the main “culprits” are always the ‘biggest bad boys’, Russia and China.

Anyone, at any time, could easily land on the proverbial hit list of President Trump, and hawks of his United States of A. It could be India (which, during ‘good submissive times’ is called by the West the “biggest democracy”,

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In Syria the Entire Nation Mobilized, and Won | New Eastern Outlook

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12-12-18 02:25:00,

SY1

Yes, there is rubble, in fact total destruction, in some of the neighborhoods of Homs, Aleppo, in the outskirts of Damascus, and elsewhere.

Yes, there are terrorists and ‘foreign forces’ in Idlib and in several smaller pockets in some parts of the country.

Yes, hundreds of thousands of people lost their lives and millions are either in exile, or internally displaced.

But the country of Syria is standing tall. It did not crumble like Libya or Iraq did. It never surrendered. It never even considered surrender as an option. It went through total agony, through fire and unimaginable pain, but in the end, it won. It almost won. And the victory will, most likely, be final in 2019.

Despite its relatively small size, it did not win like a ‘small nation’, fighting guerilla warfare. It is winning like a big, strong state: it fought proudly, frontally, openly, against all odds. It confronted the invaders with tremendous courage and strength, in the name of justice and freedom.

Syria is winning, because the only alternative would be slavery and subservience, and that is not in the lexicon of the people here. The Syrian people won because they had to win, or face the inevitable demise of their country and collapse of their dream of a Pan-Arab homeland.

Syria is winning, and hopefully, nothing here, in the Middle East, will be the same again. The long decades of humiliation of the Arabs are over. Now everyone ‘in the neighborhood’ is watching. Now everybody knows: The West and its allies can be fought and stopped; they are not invincible. Tremendously brutal and ruthless they are, yes, but not invincible. The most vicious, fundamentalist religious implants can be smashed, too. I said it before, and I repeat it here again: Aleppo has been the Stalingrad of the Middle East. Aleppo and Homs, and other great courageous Syrian cities. Here, fascism was confronted, fought with all might and with great sacrifice, and finally deterred.

*

I sit in the office of a Syrian General, Akhtan Ahmad. We speak Russian. I ask him about the security situation in Damascus, although I already know. For several evenings and nights, I have been walking through the narrow winding roads of the old city;

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