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Danish Central Bank Warns Of “Risk Illusion”, Fears “Fire Sale” Plunge In Asset Prices
Danish Central Bank Warns Of “Risk Illusion”, Fears “Fire Sale” Plunge In Asset Prices
Having slashed rates below zero and unleashed various rounds of asset-purchases, the Riksbank (Denmark’s central bank) recently warned the rest of the world that “we have reached the limits of monetary policy.” Now, however, Denmark’s Systemic Risk Council has raised the financial system warning level to DEFCON1, warning that low levels of interest rates have led to excessive risk-taking and risk illusion among borrowers and credit institutions… and low market liquidity combijed with sudden shifts in risk perceptions may still lead to significant falls in asset prices and fire sales.
With so many of the world’s nations going NIRP…
At least one of the world’s central banks is worried about it…
The Systemic Risk Council has held its thirteenth meeting.Sudden changes in risk perception in the financial markets combined with low market liquidity may still lead to significant falls in asset prices and fire sales. Due caution should be exerted in relation to the low level of interest rates, which may lead to excessive risk-taking and risk illusion among borrowers and credit institutions.
There may be systemic risks associated with a sudden change in risk perception in the financial markets combined with low market liquidity
Recent months have seen a partial materialisation of the risk of a rapid and marked fall in asset prices in some of the global financial markets. The large fluctuations in the financial markets in early 2016 have not had systemic consequences in Denmark. Sudden changes in the perception of risk in the financial markets combined with low market liquidity may still lead to significant falls in asset prices and fire sales. The Council’s observation of 30 September 2014 regarding low interest rates and build-up of systemic risks still applies.
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Wikileaks Releases Proof Of NSA Spying On Merkel, Netanyahu, Berlusconi And Others
Wikileaks Releases Proof Of NSA Spying On Merkel, Netanyahu, Berlusconi And Others
Some documents are classified TOP-SECRET / COMINT-GAMMA and are the most highly classified documents ever published by a media organization.
WikiLeaks editor Julian Assange said:
“Today we showed that UN Secretary General Ban KiMoon’s private meetings over how to save the planet from climate change were bugged by a country intent on protecting its largest oil companies.We previously published Hillary Clinton orders that US diplomats were to steal the Secretary General’s DNA.
The US government has signed agreements with the UN that it will not engage in such conduct against the UN–let alone its Secretary General. It will be interesting to see the UN’s reaction, because if the Secretary General can be targetted without consequence then everyone from world leader to street sweeper is at risk.”
Some examples are as follows:
European NSA Intercepts
EU, Japan Study Ways to Respond to U.S. Tactics in Doha Round TalksDate 2006
Classification TOP SECRET//COMINT//NOFORN
WikiLeaks Synopsis
NSA report on intercepted Japanese diplomatic talks reveals details on U.S. and EU participation in Japanese economy, and commitment of EU to avoid “under-the-table” deals with the U.S.
(TS//SI//NF) EU, Japan Study Ways to Respond to U.S. Tactics in Doha Round Talks
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