Föhrenbergkreis Finanzwirtschaft

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Archive for 19. Februar 2018

Geldwaschmaschine Lettland: Was hinter den Affären steckt

Posted by hkarner - 19. Februar 2018

Ein Notenbankgouverneur unter Korruptionsverdacht, ein Geldhaus wegen Sanktionsbruch unter Quarantäne: Was ist da los in Riga?

Wien/Riga. Das hat es noch nie gegeben: Ein amtierender Gouverneur einer Notenbank der Eurozone wird festgenommen, weil man ihn der Korruption verdächtigt. So geschehen am Wochenende in Lettland. Am Montag meldeten die Ermittler: Ilmārs Rimšēvičs soll mindestens 100.000 Euro an Schmiergeld gefordert haben. Nach Zahlung einer Kaution in gleicher Höhe setzte man den dienstältesten Notenbankchef des Währungsraums vorerst wieder auf freien Fuß. Er beteuert seine Unschuld – und will nicht weichen. Dabei hatten der Premier und mehrere Minister den 52-Jährigen zum Rücktritt gedrängt, um den Imageschaden für den baltischen Kleinstaat zu begrenzen. Aber so ist das eben mit der Unabhängigkeit der Geldpolitik: Ihre Protagonisten wird man nicht so leicht los. Den Rest des Beitrags lesen »

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(Not only American) banks pay depositors less than online accounts

Posted by hkarner - 19. Februar 2018

Date: 18-02-2018
Source: The Economist

They seem to be relying on the power of inertia to retain their customers—a risky strategy

EVERYONE knows that interest rates are rising—except, perhaps, one group: American savers who have put $12trn in bank accounts. They have seen the government’s deposit guarantee, purportedly designed to protect them, become a ticket for banks to receive free money. For evidence, look no further than the ubiquitous bank branches dotting America’s high streets.

Those seeking a home for their money find that, unlike petrol stations or grocers, banks are not required to post their most important price, the interest rate. Ask and you will be referred to a specialised member of staff. After a wait, numbers are typed into a computer, followed by pauses for thought, a bit of throat clearing and, often, comments that the current rates on offer may not exceed inflation. Then come hints, doubtless filtered through a compliance department, of the higher returns available on the bank’s investment offerings, which, of course, carry risks (and fees). Den Rest des Beitrags lesen »

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Germany’s Coffers Are Overflowing, But No One Is Talking About Tax Cuts

Posted by hkarner - 19. Februar 2018

Date: 18-02-2018
Source: The Wall Street Journal

Despite huge government surpluses and comparatively low debt, lowering taxes is off the table

The German government never had so much money or so many ideas about how to spend it. The one thing that isn’t being discussed is giving it back to taxpayers.

Tax cuts—a fixture of the political debate in the U.S., where the government hasn’t balanced its books in decades—are barely on the agenda here, even though Germany’s next government is expected to post a consolidated budget surplus of roughly €50 billion ($62 billion) between now and 2021, according to finance ministry calculations.

“It is sort of a through-the-looking-glass world,” said John Kornblum, a former U.S. ambassador to Germany, of the two countries’ differing attitudes. “Traditionally Germans have been in favor of hoarding resources rather than lowering government expenditures.” Den Rest des Beitrags lesen »

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How IT Threatens Democracy

Posted by hkarner - 19. Februar 2018

Kofi A. Annan

Kofi A. Annan, a former secretary-general of the United Nations and Nobel Peace laureate, is Chair of the Kofi Annan Foundation, which mobilizes political will to overcome threats to peace, development, and human rights. He is also Chair of the Elders and of the Africa Progress Panel.

Social media could be just the start of a slippery slope leading to an Orwellian world controlled by Big Data Brother, accelerated by convergence with the sensors in our devices and rapid advances in artificial intelligence. Some authoritarian regimes are already marshaling these developments to exercise control on an unprecedented scale.

MUNICH – The Internet and social media were once hailed for creating new opportunities to spread democracy and freedom. And Twitter, Facebook, and other social media did indeed play a key role in popular uprisings in Iran in 2009, in the Arab world in 2011, and in Ukraine in 2013-2014. Back then, the tweet did at times seem mightier than the sword.

But authoritarian regimes soon began cracking down on Internet freedom. They feared the brave new digital world, because it was beyond the reach of their analogue security establishments. Their fears proved unfounded. In the event, most social media-enabled popular uprisings failed for want of effective leadership, and traditional political and military organizations retained the upper hand. Den Rest des Beitrags lesen »

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