News and Trends

February 11, 2016

Germany considers $5,450 limit on cash transactions - Associated Press-- 2.3.16
The German government is considering introducing a limit of $5,450 (5,000 euros) on cash transactions in an effort to combat money laundering and the financing of terrorism.

The Fed Wants to Test How Banks Would Handle Negative Rates - Bloomberg--2.2.16
The Fed has been asking banks to consider the possibility of interest rates turning negative. In its annual stress test for 2016, the Fed has said it will test the resilience of big banks to a number of situations, including negative interest rates.

Top US financial groups hold secret summits on long-termism - CNBC--2.1.16
The world's largest asset managers have been holding secret summit meetings to discuss a statement of best practice on corporate governance and focus on the role of board directors, executive compensation, board tenure and shareholder rights.

National debt hits $19 trillion - Washington Examiner--2.1.16
The national debt has hit $19 trillion for the first time after hitting $18 trillion on December 15, 2014. The federal government has been free to borrow as much as needed for the last several years.

Feds foresee $30 trillion debt, blame looming tax hikes and Obamacare - The Washington Times--1.25.16
The Congressional Budget Office has reported that the federal government will near $30 trillion in debt with a decade. Analysts say that Obamacare will chase more workers out of the labor force over the next five years, adding pressure to the struggling economy.

World faces wave of epic debt defaults, fears central bank veteran - The Telegraph--1.20.16
The global financial system faces an avalanche of bankruptcies that will test social and political stability, one expert is warning.

GEORGE SOROS: The world is running into something it doesn't know how to handle - Business Insider--1.18.16
According to hedge fund billionaire George Soros, we are repeating 2008. This time, the root cause of the crisis is China and the deflationary forces it is transmitting to the rest of the world.

French President declares economic emergency - CNBC--1.18.16
French President Francois Hollande has declared that he called "a state of economic and social emergency." The country has been under a state of emergency since extremist attacks in November.

U.S. stocks post worst 10-day start to a year in history- Market Watch -- 1.15.16
Stocks closed sharply lower, locking in the worst 10-day start to a calendar year ever. Investors continue to be concerned about the slowing growth in the U.S. and plunging oil prices.

Soros: It's the 2008 crisis all over again - CNBC--1.7.16
Billionaire investor George Soros has sent warnings of an impending financial market crisis. Investors around the world have been roiled by turmoil in China trade for the second time this week.

"We Frontloaded A Tremendous Market Rally" Former Fed President Admits, Warns "No Ammo Left" - Zero Hedge--1.5.16

Former Dallas Fed head Richard Fisher blames the Fed for the recent U.S. market volatility. According to Fisher, the Fed "front-loaded an enormous market rally in order to create a wealth effect...and an uncomfortable digestive period is likely now."

Fischer Worries Fed Can't Head Off or Contain Financial Crises - Bloomberg--1.4.16
Fed Vice Chairman Stanley Fischer is voicing concerns that the central bank in lacking some key tools needed to prevent another financial crisis and to contain the fallout if one should occur.

U.S. stocks start 2016 with steep losses- Market Watch--1.4.16
The S&P 500 marked its worst start to a new year in more than a decade. The sharp declines followed an almost 7% slide in China's Shanghai composite index on the back of a weak manufacturing reading.

Financial Armageddon Approaches: U.S. Banks Have 247 Trillion Dollars Of Exposure To Derivatives - The Economic Collapse--12.29.15
The top 5 "too big to fail" banks in the United States each have exposure to derivative contracts that is in excess of 30 trillion dollars and is a ticking time bomb that could set off a financial Armageddon at any moment.

In Sweden, a Cash-Free Future Nears - NY Times--12.26.15
Sweden has become a tech-forward country that has become hooked on the convenience of paying by app and plastic. Some are concerned that this increases vulnerability to sophisticated internet crimes.

Federal Reserve embarks on historic new era of higher interest rates- Market Watch--12.16.15
The Federal Reserve has decided to raise interest rates for the first time since 2006. Policy markers voted 10-0 to lift the Fed's borrowing rate to a range of 0.25% to 0.5%.

China and Japan Continue to Liquidate US Treasury Holdings: What It Means - 24/7 Wall Street--12.8.15
China set a record in November in terms of the pace of its liquidation of foreign exchange reserves. China's foreign exchange reserves, which mostly consists of U.S. Treasury Debt, dwindled by another $87 billion.

Where The Job Gains Were: 319,000 "Part-Time Jobs For Economic Reasons" Added - Zero Hedge--12.4.15
On the surface the jobs number looked better than expected. However, once you take a look closer, the report reveals that 319,000 of the jobs gains were only part-time jobs.

"News and commentaries posted at Swiss America does not necessarily express the opinions of Swiss America nor of its personnel. Swiss America attempts to post only credible news and opinions, however we do not take responsibility for the accuracy of external content nor should it be construed as an endorsement."

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