Global Financial System Is 'Unstable' and Risk Of 'Clearing System Seizure', BIS Warns

The pillars of the global financial system are fundamentally unstable which could lead to a frightening chain-reaction in the next crisis, BIS warns

• Giant "central counterparties" that clear the $540 trillion nexus of derivatives are vulnerable to failure in times of extreme stress

• The Bank for International Settlements said CCPs could cause "a destabilising feedback loop, amplifying stress"

• Recent market 'jolt' will be first of many as easy money era ends - world’s top watchdog

The pillars of the global financial system are fundamentally unstable and could lead to a frightening chain-reaction in the next crisis, the world’s top watchdog has warned.

Giant "central counterparties" (CCPs) that clear much of the $540 trillion (£428 trillion) nexus of derivatives are themselves vulnerable to failure in times of extreme stress.

This is a worry looming ever larger as rising US interest rates expose the weak links in global debt markets.

The Bank for International Settlements (BIS) said in its quarterly report that the CCPs could cause “a destabilising feedback loop, amplifying stress.”

https://www.zerohedge.com/news/2018-12-18/global-financial-system-unstable-and-risk-clearing-system-seizure-bis-warns

>>4372528

Panic. Threat.

The Latest Facebook Scandal: Netflix, Spotify Could Read Private Messages, Yandex Was Given IDs

Facebook has been giving some of the world's largest technology companies - more than 150 of them, far more intrusive access to users' personal data than it has ever disclosed according to an investigation by the New York Times. The Times interviewed over 60 people including current and former employees of Facebook and its partners, former government officials and privacy advocates - and reviewed over 270 pages of Facebook's internal documents while performing technical tests and analysis to monitor what data Facebook has been handing out like candy.

https://www.zerohedge.com/news/2018-12-18/facebook-shared-shocking-amount-user-data-netflix-spotify-could-read-private

MI - Company Owner Gives Away $4 Million In Christmas Bonus to Employees

It was just a normal holiday luncheon for the employees of a Michigan company until its owner made a surprisingly happy and welcome announcement- that he is giving away $4 million as a holiday bonus to be shared among full-time employees.

The promised money would be dispersed among employees based on tenure with the company.

It was music to the ears of the workers when FloraCraft owner and Chairman Lee Schoenherr took the stage on Friday and announced his sweet plan. He said: “What I’m going to do is I’m going to make available $4 million to be paid out in a couple of ways, part cash, part-year profit sharing, part in your 401K…my overriding reason for doing this is to show you my appreciation for all the hard work and the things you do. It doesn’t get unnoticed.”

Some employees were left stunned by the announcement, that some were even in tears. Some said they couldn’t believe their owner’s generosity, but we're grateful for the blessings that came their way this Yuletide season.

Employees with more than 40 years of service in the company got the top gifts and bonus that exceeded $60,000.

FloraCraft is a family-owned company known for making foam products for the craft and floral industries.

Schoenherr acknowledged that his employees are key to his company’s success, that is why they deserve to be rewarded. He said: “That’s my sole purpose for doing what I’m going to do. And that’s the only reason. There’s no other reason behind it except to say you guys and girls have been great.”

The owner also stressed that the employees’ energy, passion, and loyalty inspire him every day.

https://thegoldwater.com/news/43726-MI-Company-Owner-Gives-Away-4-Million-In-Christmas-Bonus-to-Employees

>>4372580

kek

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