#capital controls

[intelligentliving]

UN: Developing Nations Need $2.5tn To Survive The COVID-19 Crisis

Developing countries are facing a massive, crippling impact on their vulnerable economies due to the COVID-19 outbreak. In response to this, the United Nations has called for a $2.5 trillion emergency package to help these nations cope with the “looming financial tsunami.” The UN urged rich western countries to provide...

[eaposztrof]

A world built on fantasy!

Synthetic emotions in the form of pills, psychological warfare in the form of advertising, mind-altering chemicals in the form of food, brainwashing seminars in the form of media, controlled isolated bubbles in the form of social networks.

Real? You want to talk about reality?

We haven't lived in anything remotely close to it since the turn of the century.

We turned it off, took out the batteries, snacked on a bag of GMOs while we tossed the remnants in the ever-expanding dumpster of the human condition.

We live in branded houses trademarked by corporations built on bipolar numbers jumping up and down on digital displays, hypnotizing us into the biggest slumber mankind has ever seen.

You have to dig pretty deep, kiddo, before you can find anything real.

We live in a kingdom of bullshit, a kingdom you've lived in for far too long.

So don't tell me about not being real.

I am very real.

We are all together now, whether you like it or not.

Mr. Robot S01E10

[elladastinkardiamou]

Greece to Fully Lift Capital Restrictions Starting September 1

Greece is lifting all remaining limits on the free movement of capital outside the country after four years of restrictions, signaling a further return to normality for the country’s economy.

Capital controls are “now a thing of the past,” Prime Minister Kyriakos Mitsotakis told lawmakers in Athens on Monday, after announcing the move. The restrictions will officially be lifted on Sept. 1.

The controls were first imposed in June 2015 after former Prime Minister Alexis Tsipras reached a standoff with creditors after announcing a referendum that sent depositors running to line up in front of ATMs.

The complete lifting of the restrictions is in full cooperation with the country’s central bank and the European authorities, Finance Minister Christos Staikouras said in a speech in parliament Monday. The move will help the country’s sovereign rating and shows that the banking system is stabilizing, Staikouras said.

[elladastinkardiamou]

Greek households & businesses still keep billions under mattresses or abroad, says BoG governor

The governor of the Bank of Greece, Yannis Stournaras, has said that Greek households still keep their money away from the banking system because they are afraid of their savings. He claimed that 12 to 14 billion euros are under mattresses and that businesses have another 10 billion euros abroad. He urged the money owners to bring it back to the country’s banks.

“We are talking about an amount between 12 and 14 billion euros,” Stournaras has been quoted by tanea, as saying adding “businesses hold abroad 10 billion euros.”

“The threat of Grexit does not exist anymore, so there is no reason not to bring their capital to Greece,” he stressed.

There is information that close to €1 billion is the amount of capital held abroad by only one of the companies that hold their capital outside the Greek banking system.

Stournaras appeals to these companies “to show patriotism” and to bring their money their money to Greece. At the same time, he sends a loud message to households the prefer  mattresses and flower pots to keep their savings than in the banks.

The Central Bank governor underlines that the return of deposits deposits is a key factor in lifting of capital controls.

[sweettntmag]

Gold standard: Why the world abandoned it and why it still matters today

An idea that shaped global finance For centuries gold was seen as the purest expression of wealth. It glittered in riverbeds, resisted corrosion and could be moulded with simple tools. Entire civilisations treated it as a universal language of value, and eventually modern economies built their monetary systems on it. The gold standard, the framework that tied the money in circulation to…

Gold standard: Why the world abandoned it and why it still matters today

[pavel-nosok]

Dollarization Can Lead to ‘Economic Contraction and Collapse’ of Argentine Economy — Former US Treasury Official

The U.S. chairperson of the Official Monetary and Financial Institutions Forum (OMFIF) has characterized the Argentinian presidential hopeful’s plan to fully dollarize the economy as “a far too risky gamble.” Mark Sobel said full dollarization without an exit policy “could well lead to a far more serious economic contraction and collapse.” Javier Milei’s Unconventional Policy…

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[pavel-nosok]

US Treasury Secretary: No Alternative Reserve Currency Can ‘Replicate’ Role Played by the Dollar

United States Treasury Secretary Janet Yellen recently told members of the U.S. Congress that while some countries are seeking to create alternatives to the greenback, no country, including China, can create a currency which replicates the dollar’s role in the global financial system. The U.S. Treasury secretary also claimed that it will not be easy for any country “to devise a way to get around…

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[astratv]

Γερμανία: Σχέδια έκτακτης ανάγκης σε περίπτωση μπλακ άουτ - Στο τραπέζι και capital controls

Γερμανία: Σχέδια έκτακτης ανάγκης σε περίπτωση μπλακ άουτ – Στο τραπέζι και capital controls

Το ζήτημα της πρόσβασης σε μετρητά είναι ένα από τα θέματα που εξετάζει η κυβέρνηση της Γερμανίας σε περίπτωση ενός μπλακ άουτ το επόμενο διάστημα. Αν και οι γερμανικές αρχές έχουν υποβαθμίσει δημοσίως ένα τέτοιο ενδεχόμενο, σύμφωνα με το Reuters γίνονται συζητήσεις και καταστρώνονται σχέδια  αντιμετώπισης, γεγονός που δείχνει πόσο σοβαρά λαμβάνεται υπόψιν η απειλή. Γίνεται ακόμα φανερό ότι…

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