Russia’s central bank is trying to stop cryptocurrencies. London housing prices are falling, the bubble is popping. In NY the commercial real estate and residential real estate is falling apart, foreclosures are way up, back to 2009 levels. The IMF is trying to convince the world that the economy is fully recovered, but buried deep in the report it says the recovery cannot be sustained. More countries move away from the dollar, Turkey and Iran decide to trade in their local currencies. The Catalan President wants to speak to the Spanish government to avoid a civil war. Russia is looking to take legal action over the confiscation of their property in the US. The US sends a nuclear submarine to South Korea for more drills. Russia destroys the IS economic structure. Russia accuses the US of simulating attacks on the IS.
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Current News – 10.10.2017
- The first deputy governor of Russia’s central bank, Sergei Shvetsov, has said that Bank of Russia will support efforts to block access to external websites selling cryptocurrencies in the country.
- Shvetsov, speaking at a conference on October 10, cited the “unreasonably high risks” involved in cryptocurrency investment as a reason for the proposed measure, adding: “We cannot give direct and easy access to such dubious instruments for retail (investors),” Reuters reports.
- Bank of Russia will be working with the country’s general prosecutor to block all exchanges offering Russians the opportunity to buy and sell cryptocurrency.
- – London house prices fall in September: first time in eight years
– High-end London property fell by 3.2% in year
– House sales down by over a very large one-third
– Global Real Estate Bubble Index – see table
– Brexit, rising inflation and political uncertainty causing many buyers to back away from market
– U.K. housing stock worth record £6.8 trillion, almost 1.5 times value of LSE and more than the value of all the gold in world
- Still, it does seem odd that the commercial real estate market in NYC is collapsing at the same time that residential foreclosures are surging to levels not seen since the 2009 crisis. As Property Shark points out today, foreclosures across NYC surged 79% YoY in Q3 2017, to 859, and remain at the highest levels since the ‘great recession.’
- All 5 boroughs registered increases in the number of homes scheduled for auction, though Staten Island, the Bronx, and Brooklyn saw numbers skyrocket compared to Q3 2016, up 264%, 145% and 118%, respectively.
- Confirming the shift to a more optimistic worldview by IMF unveiled last week by Christine Lagarde, in its latest World Economic Outlook released on Tuesday, the IMF raised its 2017 and 2018 GDP growth forecast for the U.S., China, euro area and Japan as follows:
- Global GDP to expand 3.6% in 2017 and 3.7% in 2018, up from July estimates for 3.5% this year and 3.6% next
- U.S. to grow 2.2% this year, up from July est. of 2.1%
- U.S. to grow 2.3% in 2018, up from July est. of 2.1%
- Buried in the report there was this warning from IMF Chief Economist Maurice Obstfeld: “A closer look suggests that the global recovery may not be sustainable – not all countries are participating, inflation often remains below target with weak wage growth, and the medium-term outlook still disappoints in many parts of the world.“
- And while the IMF was quite optimistic on the rest of the world, it singled Britain out as a “notable exception” to an improving global economic outlook on Tuesday, as it cut its forecast for UK growth and said the long-term negative effects of Brexit were beginning to show.
- In yet another sign that Turkey’s Eurasian pivot is about cold hard economics, rather than more fleeting ideological concerns, Turkey and Iran have officially announced that future bilateral trade will be conducted in Iranian Rial and Turkish Lira. This represents yet another blow to Dollar hegemony, as countries ranging from Russia, China and Venezuela, begin exploring trading options that are not dependant on the United States.
- , this gives the two countries the potential to treble the current level of bilateral trade which stands at $10 billion per annum, up to $30 billion.
- A global effort among countries whose economies aren’t directly tied in to the US financial and monetary systems, to drop the Dollar and begin trading in local and regional currencies, has long been a priority among states that are effectively getting ripped off by Dollar derived exchange rates and practices.
- The Catalan parliament met Tuesday afternoon. Catalonia president asked parliament to suspend the effects of Catalonia voting “yes” for independence to hold talks with Spain.However, Puigdemont still maintains the legality of the October 1 referendum in Catalonia, stating Catalans had “won their right to become an independent country.”For now, Puigdemont seeks dialogue with Madrid. “the Rajoy government will take measures, and is expected to apply Article 155 of the Constitution.“
- That, as readers are aware by now, is the so-called “nuclear option”, one which would entail Spain seizing control of the separatist province, potentially leading to even more violence and even more demands for independence.
- The Catalonians’ overwhelming “yes” vote for independence from Spain has triggered dreams of sovereignty across Europe. On the Finnish archipelago of Åland, the controversial referendum has evoked hopes of widening the autonomy the islanders currently enjoy, with more ambitious goals to follow.
- Russian Foreign Minister Sergey Lavrov told US Secretary of State Rex Tillerson that Moscow insists on the return of its diplomatic properties “illegally seized” by the US, warning of legal consequences and possible retaliation.
- following news from the BBC that North Korea hackers have reportedly stolen a large cache of military documents from South Korea, including a plan to assassinate North Korea’s leader Kim Jong-un.
- According to South Korean lawmaker Rhee Cheol-hee – a member of South Korea’s ruling party who sits on its parliament’s defence committee – the compromised documents, which were stolen from the country’s defense ministry, include wartime contingency plans created by the US and South Korea, and also include reports to the allies’ senior commanders. Plans for the South’s special forces are also said to have been accessed, along with information on significant power plants and military facilities in the South.
- As US forces prepare to join their South Korean partners for yet another round of the military exercises that North Korean Leader Kim Jong Un is so fond of, the US has sent a nuclear-powered sub to participate.
- The nuclear-powered submarine Michigan will arrive in the Korean port city of Busan, situated in the southern part of the country, by the end of the week, according to Bloomberg, which cited local media reports.
- The sub will conduct joint drills with the US aircraft carrier USS Ronald Reagan in the waters off the peninsula next week.
- With North Korea celebrating the founding of the country’s ruling Communist Party on Oct. 10, US and South Korean defense officials are anticipating that the country could launch another provocative missile test as soon as tonight.
- the USS Ronald Reagan is presently making a scheduled refueling stop in Hong Kong but is expected to return to the peninsula shortly.
- The Turkish President has spoken of cooperation with Serbia during an address in Belgrade.
- Turkey expects the Turkish Stream gas pipeline will be extended to Serbia, President Recep Tayyip Erdogan, who is in Belgrade, said Tuesday.
- “The Turkish Stream is a very important project, now it passes through the Black Sea, then through our territory it will be laid to Europe. We continue to discuss all issues related to it with [Russian President Vladimir] Putin,” Erdogan said.
- “Our desire is for the gas to get to Europe as soon as possible, and I believe that Putin is also positively looking at it.
- Libya woke up to the news Sept. 29 of a heinous crime in which four men from the country’s largest tribe had been murdered as they were driving back home from the town of Mizda, south of Tripoli, to Bani Walid in the west of the country. The murder had a criminal motive and not a political one [as initially thought]. We identified the perpetrator, and we are now working on handing him over to the office of the prosecutor general in Tripoli.”
- Militants of the Islamic State (IS, terror group, outlawed in Russia) no longer have sources of financing in Syria for purchasing weapons and ammunition and recruiting mercenaries – the group’s economic infrastructure in that country has been destroyed,
- “The Russian Aerospace Forces have destroyed the economic infrastructure of ISIL in Syria and foil any attempts by terrorists to resume the production and illegal sale of hydrocarbons in Syria. ISIL no longer has the sources of financing for purchasing weapons and ammunition and recruiting mercenaries in Syria,” he said.
- The US-led coalition, which is simulating the fight against ISIS, primarily in Iraq, sees all this but continues to supposedly actively fight against ISIS, for some reason in Syria,” the spokesman said.
- The statement stressed that in the US-led coalition’s area of responsibility in the western part of Iraq, where Russian jets are not engaging terrorists, the area under IS control is already “several times larger than in Syria” and continues to expand. Russia believes that IS is using this springboard in Iraq to transfer fighters into Syria.
- The rate of US-led strikes against ISIS targets in Iraq has sharply decreased as Syrian forces close in on IS positions in Deir ez-Zor province, the Defense Ministry said, citing the open data provided by the Combined Joint Task Force – Operation Inherent Resolve.
- In some cases, Konashenkov noted, US-led planes reduced their daily intensity of attacks on ISIS targets in Iraq by five times compared to the engagement in Syria.
- “The timing of this decrease in intensity of [the US-led] strikes in Iraq, in a strange way, coincided with the transfer of ISIS [militants] to Deir ez-Zor from the border areas of Iraq, who are now trying to gain a foothold on the eastern bank of the Euphrates,” Konashenkov said.
- In the week following the Las Vegas massacre, the carefully crafted narrative presented by the mainstream media has been incredibly difficult to choke down, especially to those who constantly seek the truth. But the truth is, the narrative is changing again, and it’s becoming even more unbelievable.
- Late yesterday, the Clark County Sheriff, Joe Lombardo, once again altered the timeline.
now the gunman allegedly opened fire on a security guard six minutes before he unleashed the massacre. Officials had previously claimed that Paddock, 64, shot Mandalay Bay security guard Jesus Campos only after Paddock had started shooting at the Route 91 Harvest country-music festival from his 32nd-floor hotel suite on Oct. 1. –Zerohedge
- This is incredibly important because officials originally credited Campos with stopping the shooting and taking a bullet to the leg. And now the authorities don’t actually know why Paddock suddenly stopped his attack on the crowd below.
- As part of the constantly changing story, officials are now saying that police officers who rushed to the hotel room when the shooting began didn’t know a hotel security guard had been shot “until they met him in the hallway after exiting the elevator,”