Negative Covid-19 test to become MANDATORY for Slovakians to go to work, visit countryside

18-01-21 02:34:00,

Slovakians will not be allowed to go to work or make a trip to the countryside unless they have recently tested negative for Covid-19. The rule comes into effect next week, with Bratislava hoping to ramp up testing by then.

The plan is broken down into two phases. The first, which begins on Monday and will last for a week, will see Slovakians flocking to Covid-19 testing locations, including regular and mobile testing sites, to take either an antigen or a PCR test.

From next Wednesday, January 27, Slovakians who have failed to obtain test results proving they are not infected will be effectively confined to their homes. Such routine things as traveling to the workplace, walking to the post office, or countryside trips (for those aged 15-65 years) will be off limits. Visits to the doctor and shopping for groceries are among the few exceptions from the regulations.

Also on
EC president von der Leyen dares European nations to call her bluff with announcement of (mandatory?) vaccine certificates

If the newly introduced rules are not tricky enough, those who live in one of the 37 districts with a higher rate of infections will have to go through a second round of testing. They will be exempted from the de facto curfew, to last from February 3 to February 7, only if they test negative twice. Those who live in the remaining 36 districts won’t have to repeate the procedure.

Slovakia, a nation of some 5.4 million people, has been living under a sweeping lockdown since the beginning of January. As part of the wide-ranging restrictions, any visits involving people from different households are prohibited, public church services are banned, and restaurants can serve only takeaway.

Also on
Why I fear the introduction of Covid-19 vaccination cards will lead seamlessly to us being forced to carry ‘immunity passports’

The current lockdown is set to expire on February 7. However, the government has not ruled out relaxing the measure earlier if the number of hospitalizations sinks below 2,500, according to Reuters. It currently stands at over 3,000 people.

Think your friends would be interested? Share this story!

 » Lees verder

Will the IMF, FED, Negative Interest and Digital Money Kill the Western Economy? | New Eastern Outlook

14-09-19 04:06:00,


The IMF, has been instrumental in helping destroying the economy of a myriad of countries, notably, and to start with, the new Russia after the fall of the Soviet Union, Greece, Ukraine and lately Argentina, to mention just a few. Madame Christine Lagarde, as chief of the IMF had a heavy hand in the annihilation of at least the last three mentioned. She is now taking over the Presidency of the European Central Bank (ECB). There, she expects to complete the job that Mario Draghi had started but was not quite able to finish: Further bleeding the economy of Europe, especially southern Europe into anemia.

Let’s see what we may have in store – to come.

Negative interest, we have it already – it’s the latest banking fraud stealing money from depositors to give to large borrowers. It’s a reverse cross-subsidy, the poor financing the rich. That’s the essence. It’s a new form of moving money from the bottom to the top. Now, a Danish bank has launched the world’s first negative interest rate mortgage. It provides mortgages to home owners for a negative rate of 0.5%. The bank pays borrowers to take some money off their books. Of course, as usual, only relatively well-off people can become home owners and benefit from this reverse cross-subsidy. It is a token gesture, duping the public at large int believing that they are benefitting from the new banking stint. The bulk of such operations serve large corporations.

The borrower pays back less than the full loan amount. Switzerland may soon go into the direction of Denmark. Bank deposits with the central banks pay negative interest almost everywhere in the western world, except in the US – yet. It’s only a question of time until the average consumer will have to reimburse the banks for their central bank deposit expenses, meaning, the customers are getting negative interest on their deposits. That’s inflation camouflage. A sheer fraud, but all made legal by a system that runs amok, that does not follow any ethics or legal standards. A totally deregulated western private banking system, compliments of the 1990s Clinton Administration, and, of course, his handlers. As Professor Michael Hudson calls it, financial barbarism. We are haplessly enslaved in this aberrant ever more abusive private – fiat money – banking shenaniganism.

 » Lees verder

12 Reasons Why Negative Rates Will Devastate The World

18-08-19 06:07:00,

It has been a thesis over 20 years in the making, but with every passing day, SocGen’s Albert Edwards – who first coined the term “Ice Age” to describe the state of the world in which every debt issue ends up with a negative yield as capital markets and economies collapse into a deflationary singularity – is that much closer to having the victory lap of a lifetime. Although, we doubt he is happy about it.

Commenting on the interest rate collapse he has been (correctly) predicting ever since he first observed Japan’s great bubble bust of the 1980s and which resulted in both NIRP and QE, and which he (correctly) expected would spread across the rest of the world, leading to a “Japanification” of every major bond market…

… Edwards said that what bond markets are telling us is “that the cycle is ending with the central banks having failed to drive core CPI inflation higher. So Japanese-style outright deflation lies ahead at a time when western economies have piled debt sky high.”

Needless to say that’s not good, not least of all because we now live in a world in which the bond universe with negative yields continued to grow at an exponential pace, rising rapidly over the past two weeks and reaching a record $16.4 trillion…

… rising  significantly above the previous mid-2016 record high of around $12.2tr. The expansion of the universe of negatively yielding bonds as a percentage of total is shown below: as of the last week, this proportion increased further to around 30.0%, above the mid-2016 record high of 25.8%.

Meanwhile, as the world is blanketed by Edwards’ Ice Age, one can see the spread of negative rates both in space and in time. As JPMorgan shows, the spectrum of negative yielding universe expanded this year not only from shorter   duration to longer duration government bonds but also down the risk spectrum from core Euro area government bonds to bonds issued by Peripheral countries as shown below.

The next chart shows the proportion of bonds in negative territory as a % of total bonds in each maturity bucket across various countries within the JPM GBI Broad index.

 » Lees verder

Negative Interest Rate Insanity Is Behind Western Europe’s New Tallest Skyscraper

04-04-19 09:23:00,

Authored by Jesse Colombo via,

Business Insider published a piece on April 1st about plans to build Western Europe’s tallest skyscraper…in a small, rural Danish town with just 7,000 residents. After I posted it on Twitter, many of my followers thought it was an April Fool’s joke due to how absurd the idea is. Even I had to do a little research to confirm that it wasn’t a joke, but it is indeed a true story –

A 1,050-foot skyscraper soaring out of the earth isn’t exactly what you’d expect to come across in a corner of rural Denmark, and yet one may soon become a reality.

The fast-fashion giant Bestseller just secured final approval from the council of Brande, Denmark, to build its eponymous tower in the town of just 7,000 citizens.

When built, the Bestseller Tower, designed by the Danish architect Dorte Mandrup, will be the tallest building in Western Europe, beating out the Shard in London by 34 feet.

“We are very pleased that the plans have now been approved by the city council and we are extremely proud and humbled by the amount of support our project has received, especially locally. It is important for us to underline that the city council’s approval is merely one of the preliminary steps of a long journey,” Anders Krogh, Bestseller’s project manager, said in a statement.

Though the fashion company has long outgrown its roots in Brande — the owner, Anders Holch Povlsen, is Denmark’s richest man with a reported net worth of $7.2 billion — it’s hoping that the new building development will put the Jutland town on the map.

“It will be a landmark,” Krogh added in the statement. “But it will also function as an architectural attraction benefiting hotel guests, students and other users of the building.”

After reading that piece, what immediately came to mind was the fact that the construction of skyscrapers (especially record-breaking ones) is a common hallmark of economic bubbles.

During an economic bubble, credit is cheap and readily available, asset prices such as stocks and real estate are rising rapidly,

 » Lees verder

The Dangers of Negative Interest Rates and a Cashless Economy | Light On Conspiracies – Revealing the Agenda

14-01-19 10:30:00,

By Richard M. Ebeling

The recent gyrations in the stock market and the uncertainties surrounding American trade policies with China and other parts of the world have raised the question of when the next recession will inevitably follow the current economic recovery from the 2008-9 financial crisis. In the face of a future economic downturn, some economic policy analysts are already making the case for central banks to use negative interest rates to dampen and shorten the impact of any economy-wide decline in output and employment that may be ahead.

Not surprisingly, much of the speculation concerning the power of government to mitigate, if not prevent, an economic downturn surrounds the usual debates over the potentials of monetary and fiscal policy. Harvard University economist Kenneth Rogoff, in a recent article, “Central Bankers’ Fiscal Constraints” (January 4, 2019), downplays the efficacy of taxing and spending tools, and highlights, instead, the continuing crucial role of monetary policy and interest rate manipulation.

The Limits on Implementing Fiscal Policy

With nominal interest rates in the United States and some other places around the world still at historical lows (even in the face of recent Federal Reserve rate increases), Rogoff points out that many central bankers hope that more direct fiscal policy will carry the weight of countercyclical activities in the face of any serious recession that may come.

But he points out that in the American system of government, there is little immediate flexibility to enable agreement upon and introduction of tax cuts or spending increases that might be effective in holding back the recessionary trends in a timely fashion. Fiscal changes must work their way through and be passed by Congress, then signed by the president, and finally implemented by various government agencies. The entire process normally can take a long time, during which a recession could get increasingly worse.

Besides, the political and ideological conflicts and controversies among Democrats and Republicans have become even more divisive in recent years. Thus, Rogoff says, any agreement about who should benefit from any tax cuts and on what programs increased government spending should be directed would not be easily or quickly resolved. All this would prevent fiscal policy from taking the lead in fighting the next recession.

 » Lees verder