Digital Euro Nears Launch as ECB Enters Final Preparation Phase
The European Central Bank (ECB) is edging closer to rolling out the digital euro, with the final preparation phase expected to last another year. According to ECB Executive Board member Piero Cipollone, the project has been in the works since 2021. Speaking before the European Parliament’s Economic and Monetary Affairs Committee, Cipollone confirmed that the ECB is now midway through its preparation, aiming for completion within 12 months.
Maybe the gods of finance send us the collapse of this shitcoin before this happens...
#DigitalEuro #ECB #CBDC #EuropeanEconomy
Global Rate Cut Wave: Central Banks Pivot to Boost Economic Growth
In a coordinated effort to stimulate economic growth, central banks worldwide are embarking on a rate-cutting spree. Europe led the charge, followed by the Federal Reserve, with China making moves before, during, and after. Beijing aims to revitalize its struggling economy and real estate sector through cheaper credit.
The People's Bank of China (PBOC) is set to announce official policy changes on its website soon. Meanwhile, China's 10-year bond yield hit a record low of 2% during a high-level press conference, signaling market expectations of further easing.
Experts view these measures positively, noting the comprehensive approach rather than piecemeal actions. With global central banks shifting towards rate cuts, there's potential for additional easing in the coming months. A significant fiscal push could further boost momentum as we approach Q4.
#GlobalEconomy #CentralBanks #MonetaryPolicy #Economy #China #Fed #ECB #PBoC https://nostrcheck.me/media/863f2c555276e9ed738933b0efee6b021042f16e1529dd755704885b87fee183/ea0200a33738d681837fed72e370f75e3a8519b4ecd6fe369efe30ba98d8827d.webp
US Economic Pulse: September Slowdown Signals Shift
The latest S&P Global survey reveals a subtle deceleration in US economic activity this September. The composite output index for the private sector dipped to 54.4, down from August's 54.6. While still in growth territory (above 50), this decline hints at a cooling trend.
Manufacturing took a harder hit, with its PMI dropping to 47.0, falling short of the expected 48.4. The services sector showed resilience but also eased, settling at 55.4.
#US #economy
German Economy Hits Rough Patch: Manufacturing Slump Spreads
The German economy is facing headwinds as recent data shows a sharp decline in economic activity. September's Purchasing Managers' Index (PMI) dropped to 47.2, indicating contraction across both manufacturing and services sectors.
Manufacturing took the hardest hit, with its PMI plummeting to 40.3, while services barely held above water at 50.6. New orders saw their steepest decline in nearly a year, leading to accelerated job cuts and pessimistic business outlooks.
The manufacturing recession is now spilling over into the previously resilient service sector. This crisis is the result of Germany falling into a trap of de-growth and green-socialist interventionism. And it's only the beginning...
#Germany #Economy #Recession #EU #Ampel #WEF
Eurozone: Private Sector Activity Plummets
The Eurozone's economic engine sputtered in September, catching analysts off guard. The Purchasing Managers' Index (PMI) for the private sector nosedived to 48.9, well below the anticipated 50.6. This marks the first contraction in seven months, driven by a sharp decline in new orders and a ten-month low in business outlook.
France's dramatic fall from 53.1 to 47.4 shocked economists, while Germany continued its downward trend. With order backlogs shrinking and job cuts persisting, the Eurozone appears to be drifting towards stagnation.
As demand weakens, price pressures are easing, but the road ahead looks bumpy. The post-Olympic hangover in France has exposed underlying vulnerabilities, leaving experts questioning the region's economic resilience.
#Eurozone #PMI #Economy #recession
More Fiat Debasement: PBoC Slashes Rates, Injects Billions to Boost Economy
China's monetary policy takes an aggressive turn as the People's Bank of China (PBoC) cuts interest rates on 14-day reverse repos by 10 basis points to 1.85%. This move, injecting ¥74.5 billion ($9.5 billion) into the financial system, aims to stimulate economic growth. The PBoC also pumped ¥160.1 billion through 7-day reverse repos, maintaining the rate at 1.7%. Experts view this as a continuation of July's monetary easing strategy.
#China #MonetaryPolicy #GlobalMarkets #Fiat #Bitcoin
Good morning from paradise! Total silence in Valdevaqueros/ #Spain
Viva #España!
The #Ukraine proxy war was lost (for UK and its camarilla of neocon warmongers) from day one.
The #EU turned into a socialist club of globalist parasites (#WEF)
#UK is deeply involved in financing Ukraine and therefore needs to escalate the war and draw the #US on the battlefield as the Europeans are to weak.
Those who fall for #covid and the #climatescam propaganda are socialists and statists by heart as they enjoyed the free moral dividend by openly punishing those who held up the flag of individual freedom.
Etc etc etc
Europe's Steel Industry Calls for Tariffs Amid Surging Chinese Exports
European steelmakers are urging Brussels to implement a robust system of tariffs to combat the sharp rise in Chinese steel exports, which have driven prices below production costs across Europe. The call comes as global overcapacity, weak demand, and high energy costs continue to batter the domestic industry.
According to industry leaders and key trade associations, China's steel exports are expected to exceed 100 million tons this year—marking the highest level since 2016. This surge has already sparked trade tensions, prompting several countries to impose import tariffs to shield their markets from cheap Chinese steel.
European producers argue that without stronger protective measures, the future of the continent’s steel industry remains in jeopardy. They are in line with EU policy: better to have more interventions than competition, reduction of regulation and climate nonsense, less fiscal burden and a market driven energy sector.
#SteelCrisis #EU #Trade #China #Tariffs #GlobalEconomy #EnergyCosts #FreeTrade
America's Financial Tightrope: Record Debt, Low Savings, and State Fiscal Woes
Recent financial data reveals a troubling convergence of personal and public economic challenges in America. A stark graph shows record-high credit card debt colliding with near-record-low savings rates, while many U.S. states grapple with their own debt crises.
As of June 2024, credit card debt has hit an unprecedented $1359.30 billion, while the personal savings rate has plummeted to 2.9%. This alarming trend suggests Americans are increasingly relying on credit to bridge income gaps, leaving little financial cushion for emergencies.
Multiple factors contribute to this situation: persistent inflation, rising living costs, easy credit availability, and potential post-pandemic spending rebounds. A lack of comprehensive financial education exacerbates the problem, leaving many ill-equipped to navigate these economic challenges.
Compounding these personal finance issues, numerous U.S. states face their own fiscal crises. Unfunded pension liabilities, infrastructure needs, and budget shortfalls have pushed many towards insolvency, potentially impacting public services and tax rates.
The implications are far-reaching. High credit card balances can trap consumers in debt cycles, while low savings rates leave households vulnerable to financial shocks. On a broader scale, consumer debt and state fiscal instability pose significant risks to the overall economy. Soooo: this screems for lower rates and monetary debasement. But there's still a deflationary shock looming behind the inflationary bust that could let the money printer burst.
#usa #debt #debtspiral #inflation #bitcoin
#cenntralbanks #fed #ecb https://nostrcheck.me/media/863f2c555276e9ed738933b0efee6b021042f16e1529dd755704885b87fee183/805a5c24568b12dabe1ece74dd4e43c58ba72c8346e0e53144ef49a06d4f0983.webp
When Nietzsche drops the beat, but the French & German existentialists are just trying to stay warm. Turns out the Übermensch was the one who could philosophize with cold fingers all along. Will to Power? More like Will to Higher Temperature! (You see that, Eurocraps)
#nietzsche #philosophy #existencialism #europe https://files.sovbit.host/media/863f2c555276e9ed738933b0efee6b021042f16e1529dd755704885b87fee183/f5626e900952b7ca54ec910bcdb746a04a8b2eaf12982b106cdf6c3e34bad4e0.webp
EU Pension Liabilities Reveal Stark North-South Divide (It's Totally Broken)
A recent chart comparing pension entitlements across EU and EFTA countries exposes significant disparities in funding models and potential sustainability challenges.
Southern European countries dominate the top of the chart, with Spain's total pension liabilities exceeding 500% of GDP. Greece, Italy, and France also show very high levels.
Northern and Western European nations generally have lower overall liabilities, but a much higher proportion of private/funded entitlements.
Most countries rely heavily on unfunded pension promises, with only the Netherlands, Denmark, Switzerland and Iceland having over 50% of entitlements funded.
Eastern European countries tend to cluster at the lower end of total liabilities.
This data raises important questions about the long-term sustainability of pension systems, particularly in Southern Europe where aging populations meet high unfunded liabilities. It also highlights the different approaches to pension funding across the continent, from pay-as-you-go systems to more market-based models.
As demographics shift and economic pressures mount, these disparities could lead to increased tensions within the EU over fiscal policies and potential bailouts. Countries with heavily unfunded systems may face difficult choices in the coming decades between cutting benefits, raising taxes, or taking on more debt wich of course will always be the favorite poitical solution as it can be hidden in manipulates inflation data until a fiat financed ponzi scheme like this pension system hyper-inflates. Conclusion: They will print currency like drunken sailors.
#pensions #eu #debtspiral #ecb #inflation #bitcoin #moneyprinter https://files.sovbit.host/media/863f2c555276e9ed738933b0efee6b021042f16e1529dd755704885b87fee183/40baf4a79308b8ea0339b8a673c865e3a67b837ec922ad09271937c0061fb8f7.webp
Twitter worked? Incredible. I still have acoounts with ING (no complaints) and Consorsbank which was bought by BNP Paribas some years ago. Since than it turned problematic as they're blocking cash withdraws every 4 months!
Look at these here:
N26, bunq, Wise, Monese, Tomorrow, Vivid and Revolut.
Any recommendations for btc friendly banks? Maybe Revolut?
Maybe someone could do some good and explain #bitcoin to the Germans to get some relief after the destruction of their economy? They are totally addicted to Chrissie Lagarde and her camarilla of #ECB #Fiat thieves! The intellectual, historical and mental bridges to the Weimar hyperinflationa catastrophe are destroyed. It was a sweet narrative without meaning. https://nostrcheck.me/media/863f2c555276e9ed738933b0efee6b021042f16e1529dd755704885b87fee183/3cb106686564acec90b50323cb13febb9319e191b4a7c88a164dc5150a5aedd2.webp https://nostrcheck.me/media/863f2c555276e9ed738933b0efee6b021042f16e1529dd755704885b87fee183/3770671e1740d8846d303f2c2b6bed8e455bf44953cef88dc92418c23364a921.webp
Book of the Week-End:
Emil Cioran
''The Fall into Time"
("Sturz in die Zeit" in German)
Cioran's "The Fall into Time" explores humanity's descent from a state of timeless unity into the tyranny of linear time and consciousness. For Bitcoiners and libertarians, this could resonate with ideas about the corruption of sound money and individual sovereignty by centralized systems.
Some key points:
- Skepticism of institutions: He questions the value of established social and political structures.
- Individual alienation: Cioran describes how modern life separates us from our true nature, which could parallel ideas about personal freedom and self-reliance.
- Cyclical view of history: This might appeal to those who see patterns in economic cycles and the rise and fall of fiat currencies.
- Emphasis on personal responsibility: Cioran's existential approach aligns with libertarian values of individual accountability.
While Cioran's pessimistic philosophy might seem at odds with the often optimistic outlook of bitcoiners, his critique of modern society and emphasis on individual experience could provide interesting perspectives for this audience.
Audiobook: https://youtube.com/playlist?list=PLfJi2FyGBtihAObf-xZU8E5cIwQ4hyO2Y&si=i4cfzDrUXtyMYs5q
#books #cioran #philosophy #bitcoin
They are leading the WEF freaks. It's really a mess
Green Agenda: The Return Of The Socialist Ideal - And Its Decline
The cries for help from German industry can no longer be ignored. The green destruction agenda is now hitting the heart of the German economy and, in addition to the construction industry, is now primarily affecting the chemical industry and the automotive industry, above all VW, which is threatening to close plants and has withdrawn its employment guarantee.
The immense relative increase in the price of German energy, the core piece of the de-growth fatalists, is damaging the energy-intensive sectors that generate our economic value, on which everything is built, on which we as a social society place great value, health care, social services, the pension system or other state-run ponzi schemes that won't be operable for a long time without a strong economy.
Only a free capital market will help us to bury the green-socialist agenda of destruction. It would guarantee a sufficiently high level of real interest rates to flush all the bad investments out of the market.
Our motto: r = 6%!
The supranationally anchored incentive structure, which is safeguarded by the system-friendly media, has created a growing protective wall of subsidy entrepreneurs, which we can only penetrate with difficulty using arguments.
And to all the climate apocalyptics who sectarianly follow this agenda, let me reiterate that only the free market can produce more ecologically sophisticated innovations and resource efficiency.
The efficient combination of scarce resources is in the interests of private companies that are in competition. Only in this way could the free market economy achieve the technological, social and ecological progress that we enjoy today.
If this does not apply, we will end up back in the pestilence of Bitterfeld!
The ecological disasters of socialist economic regimes speak volumes, and should be understood even by the subsidy-corrupted.
The established green subsidy machine is unethical because it damages the middle class and robs poorer members of the population of their opportunities for advancement, not to mention the fact that the gigantic mountains of debt created for this artificial GDP growth will be written into the balance sheet of future generations. This idea naturally also applies to international economic relations.
And once again: an entrepreneur who accepts a subsidy is a welfare recipient!
#germany #eu #energycrisis #wef #freemarkets #socialism #climatescam #greennewdeal #vw
https://files.sovbit.host/media/863f2c555276e9ed738933b0efee6b021042f16e1529dd755704885b87fee183/1650760edbcf5959d7fe1a0a98bf908cb65af6c85d61403edb326ad2fbe84e13.webp https://files.sovbit.host/media/863f2c555276e9ed738933b0efee6b021042f16e1529dd755704885b87fee183/84eab29b7e0cc5d0503a0dee626c6e475e8428f733c63401402e573ec8f89220.webp https://files.sovbit.host/media/863f2c555276e9ed738933b0efee6b021042f16e1529dd755704885b87fee183/dff5c1b1c93b7518f2cd27d18ddcbc24399f7eb87eac2a6e0ba66240b3c1aed1.webp