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Chinese developer Evergrande misses bond payment, default “inevitable” (now officially declared)

December 09, 2021 -

Update: Official default has been declared as of this morning.

There are at least two things wrong with this, the first being that missing a payment would mean that a default has already happened. The second is that Evergrande cannot default twice, but somehow, in the magical twilight zone of 2021 corporations, are able to default, then un-default, then maybe default again (or something?), and continue this process seemingly forever.

Evergrande still has hundreds ...

Trump’s fraud case bond payment reduced to $175 million, delaying AG James’ efforts to seize assets

March 29, 2024 -

This is the ruling of a New York appeals court that decided Trump has just 10 days from March 26 to pay the $175 million bond for his civil fraud case.

Back in February, Manhattan Supreme Court Judge Arthur Engoron ordered Trump and his co-defendants, which include his two adult sons and several former Trump Organization executives, to fork over $460 million in damages and interest for making fraudulent valuations of Trump's business assets.

The appellate court's ...

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Payment processors are banning transactions for legal firearms

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Marjorie Taylor Greene rejects Fed’s digital payment system

April 06, 2023 -

Greene was responding to news that the Fed was launching its own digital payment system. On Twitter, she shared an article from CNBC announcing that the payment system, "FedNow" would be launched in July.

"We should go back to the gold standard, not digital currency payment systems," wrote Green on her Twitter account. "Hard pass." (Related: Ron DeSantis to introduce legislation in Florida prohibiting the use of CBDCs in the state.)

Greene's negative opinion of ...

Payment processors are banning transactions for legal firearms

January 29, 2015 - Payment processors are banning transactions for legal firearms

Thursday, January 29, 2015 by: J. D. HeyesTags: payment processors, self-defense, firearms transactions

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COLLAPSE? Bond bloodbath commences as Fed’s desperate fight against inflation fails

October 27, 2023 -

It is also finally admitting it cannot normalize interest rates after having spent 18 months believing in the hype about a Fed pivot and rate cuts to something like zero percent that would be forced on the Fed by a steep recession, with lots of forever-quantitative easing (QE) to follow.

The latest retail report reflected high increases in retail sales that were in good part due to high increases in inflation. Richter called the occurrence a "bond bloodbath." "Today, ...

Judge sides with Trump, rejects New York AG’s challenge to $175M bond

April 25, 2024 - bond payment reduced to $175 million, delaying AG James' efforts to seize assets.)

During the non-jury civil fraud trial, lawyers for the Empire State's AG argued that the bond – which was reduced from a higher initial amount – should be voided. They expressed concerns over whether KSI could actually fulfill the bond payment if required.

But Engoron's April 22 ruling upheld the validity of Trump's bond – and added a few stipulations. It must be in ...

Aussie central bank goes BUST, declaring wiped-out reserves and bond losses

September 29, 2022 -

The Land Down Under's central bank revealed its wiped-out equity, thanks to bond purchases driven by the Wuhan coronavirus (COVID-19) pandemic. These purchases sought to support economic activity during the lockdown periods.

During a Sept. 21 speech in Sydney, RBA Deputy Governor Michelle Bullock revealed that the central bank's moves caused an accounting loss of 36.7 billion Australian dollars ($23.49 billion). This RBA with negative equity amounting to A$12.94 billion ...

China’s bond market implosion now a financial CONTAGION as debt defaults spread

October 12, 2021 -

Following the Evergrande fiasco, many other property developers in China have since seen massive selloffs as the companies that occupy China's junk bond market implode one by one.

Fears continue to grow about a financial "contagion" event that many believe will eventually spread far outside of China as offshore bondholders become bag holders. Evergrande, for instance, has missed another round of interest payments, breaching multiple deadlines and shattering confidence ...

BRICS to create blockchain-based payment system – Putin aide

March 06, 2024 -

The BRICS group of emerging economies plans to create a payment system based on digital technologies, Yury Ushakov, a senior foreign policy aide to Russian President Vladimir Putin, has told TASS in an interview published on Tuesday.

(Article republished from YourNews.com)According to Ushakov, the system would be “outside of politics” and would not depend on national agendas or the fiat currencies of countries around the globe.

“We believe that an important goal ...

Cashless society: Panera Bread debuts “frictionless” palm payment system

March 27, 2023 -

(Article by Tyler Durden republished from ZeroHedge.com)

On Wednesday, Panera Bread announced plans to roll out a "contactless payment method" to several stores with additional locations in the coming months. The bakery-cafe chain has over 2,000 locations, and its loyalty program has 52 million members.

“Panera is the first national restaurant company to use Amazon One as both a way for guests to pay and access their loyalty account with their palm,” the company ...

Google Checkout payment system to speed e-commerce transactions

June 29, 2006 - Google Checkout payment system to speed e-commerce transactions

Thursday, June 29, 2006 by: NewsTargetTags: e-commerce, health news, Natural NewsDesigned to compete with existing checkout and credit card processing systems such as PayPal, Google Checkout can be integrated into merchant web sites, allowing consumers with a Google account to make one-click purchases after registering their billing information only once through Google. Consumers can also use Google Checkout to ...

Bond investors warn: Brace for INEVITABLE RECESSION caused by Fed’s continued RATE HIKES

June 16, 2023 -

The investors' warnings contrasted with the Biden administration's narrative of U.S. stocks returning to a bull market, the economy outperforming expectations and the threat of an economic collapse being mitigated. Sticking to their pessimistic forecasts, they advised against hedging any bets on risk assets.

Steve Ellis, global fixed-income chief investment officer at Fidelity International, remarked he is most concerned about "something akin to a credit crunch." A report ...

Russia to launch nationwide facial recognition payment system this year

February 01, 2025 -

In a move that could revolutionize payment systems and raise privacy concerns, Russia is set to launch this year a comprehensive facial recognition payment network. The project, spearheaded by Sberbank and the National Payment Card System (NSPK), aims to create one of the largest biometric payment networks in the world.

The initiative, which began with the implementation of Face Pay in Moscow's subway system in 2021, will see approximately two ...

Microsoft CrowdStrike payment blackout caused supermarkets to go CASH ONLY

July 23, 2024 -

The newly cash-only operations encountered hordes of angry and confused people who were unable to buy food from the local supermarket because they were heavy on cards and low on cash.

The issue began after a Microsoft software product failed, taking down air traffic control towers, television channels, banks, government office operations, and phone lines. Cybersecurity software firm Crowdstrike claims the collapse of the Microsoft system was prompted by a flawed anti-viral ...

U.S. Treasury intercepts payment for “Police State” documentary ad campaign

November 12, 2023 -

Doing exactly what the film itself warns is becoming normalized, the Treasury, a federal government agency, blocked a transaction to the Salem Media Group, which produced "Police State."

The Financial Crimes Enforcement Network of the U.S. Department of the Treasury, which even more ironically enough is responsible for tracking terrorism and narcotics trafficking, decided to "intercept" a $106,000 payment that was intended to purchase ads for the D'Souza film.

The ...

Mastercard rolls out payment system that uses FACIAL RECOGNITION technology

May 19, 2022 -

The New York-based company defended its move to implement the biometric payment system amid criticism, citing two main reasons. According to Mastercard, such mode of payment facilitates shorter lines and faster checkout time. It is also more secure and more hygienic than using actual money, debit cards and credit cards.

"Once enrolled, there is no need to slow down the checkout queue searching through their pockets or bag. Consumers can simply check the bill and smile into ...

Cashless payment bracelet allows access to medical records, personal information

October 17, 2011 - Cashless payment bracelet allows access to medical records, personal information

Monday, October 17, 2011 by: Jonathan Benson, staff writerTags: cashless payments, bracelet, health news

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Bank of America’s $112 unrealized bond losses highlight precarious state of U.S. banking system

January 20, 2025 -

Bank of America’s $112 Billion bond losses expose cracks in U.S. banking system

In a stunning revelation this morning, Bank of America disclosed $112 billion in unrealized bond losses, a figure that underscores the precarious state of the U.S. banking system. The losses, which account for nearly 57% of the bank’s tangible common equity, highlight the risks of lockdown-era investments in low-yield bonds—a strategy that has backfired spectacularly as ...

Barclays NOT pulling out of Israel bond auction despite pressure from pro-Palestine activists

August 22, 2024 -

The report indicated that Barclays, one of the foreign lenders helping the Israeli government to sell debt, had planned to leave the market in recent weeks.

But after more internal discussions, the bank informed Israeli officials that it would participate in the offering and continue to work as a primary dealer, operating alongside other international banks like Goldman Sachs, JPMorgan Chase and Deutsche Bank.

"We appreciate the bank's statement affirming its continued ...