“The risk of over-tightening by the European Central Bank is nothing less than catastrophic” says Prof Kenneth Rogoff .
At Davos he also said: “Italy is extremely vulnerable. But this could pop anywhere. Global debt has gone up massively since the pandemic: public debt, corporate debt, everything.”
Rogoff believes that it is a miracle that the world averted a financial crisis in 2022, but the odds of a major accident are shortening as the delayed effects of past tightening feed through.
As Rogoff said: “We were very fortunate that we didn’t have a global systemic event in 2022, and we can count our blessings for that, but rates are still going higher and the risk keeps rising.”
But lurking in the murkiness is also the global financial assets/liabilities which is almost $500 trillion including the shadow banking system at 46% of the total. The shadow banking sector includes pension funds, hedge funds and other financial institutions which are largely unregulated.....More Below
https://goldswitzerland.com/as-west-debt-stocks-implode-east-gold-oil-will-explode/
The Israeli regime appears to be laying the groundwork for a permanent military presence in large parts of the Gaza Strip, according to a new satellite imagery analysis that documents extensive construction, infrastructure expansion, and continued destruction of Palestinian property since a ceasefire took effect in October.
Research released by Forensic Architecture, a multidisciplinary research group, and published by the Drop Site News outlet on Saturday showed that the regime had built at least 13 new military outposts inside Gaza since the ceasefire came into force on October 10, while accelerating the expansion and consolidation of 48 existing outposts.
The findings suggested that Israeli forces were not merely holding temporary positions, but physically reshaping the territory in ways consistent with long-term control.
The analysis, based on satellite images from October 10 to December 2, indicated that the regime now maintained a dense network of military infrastructure east of...
Ukraine says it has targeted an oil tanker in the Mediterranean Sea, claiming it belonged to the Russian shadow fleet.
The vessel, the Qendil, was empty when it was struck on Friday in neutral waters in the Mediterranean Sea with aerial drones for the first time, an official at the Security Service of Ukraine (SBU) said in a written statement.
Marine tracking websites showed that the oil tanker was located 2,000 km from Ukraine off the coast of Libya when it was attacked.
The unnamed Ukrainian official did not specify exactly where the tanker was at the time of the attack or when it occurred.
However, overhead footage provided by the source showed a small explosion on the deck of a tanker. Reuters confirmed the vessel shown in the video was the Qendil by comparing it with file imagery, but could not verify the time or location.
An earlier statement by the Russian Foreign Intelligence Service revealed that the British special services, in cooperation with NATO countries, had devised ...
eurofascism
The European Union is out of control and out of touch with reality. They announced a new round of sanctions on individuals and groups who refuse to drink the EU kool-aid on Ukriane. I was particularly shocked and angered by their decision to punish Colonel Jacques Baud:
Jacques Baud, a former Swiss army colonel and strategic analyst, is a regular guest on pro-Russian television and radio programmes. He acts as a mouthpiece for pro-Russian propaganda and makes conspiracy theories, for example accusing Ukraine of orchestrating its own invasion in order to join NATO.
Therefore, Jacques Baud is responsible for, implementing or supporting actions or policies attributable to the Government of the Russian Federation which undermine or threaten stability or security in a third country (Ukraine) by engaging in the use of information manipulation and interference.”
You know it is a serious matter of egregious abuse of power when Dr. Gilbert Doctorow and I are in firm agreement… Here ...
