Forty big banks test blockchain-based bond trading system


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Forty of the world’s biggest banks, including HSBC and Citi, have tested a system for trading fixed income using the technology that underpins bitcoin, fintech company R3 CEV said on March 3.

The banks are part of a consortium of 42 major lenders, brought together last year by New York-based R3 CEV to work on ways blockchain technology could be used in financial markets – the first time so many have collaborated on using such systems.

A blockchain is a huge, decentralised ledger of transactions that can be used to secure and validate any exchange of data, including real assets, such as commodities or currencies.

Bitcoin’s blockchain was the first, but others have since been built that offer additional features and can be programmed. That means the technology can enable so-called smart contracts: agreements that are automatically executed when pre-determined conditions are met.

http://www.thestar.com.my/tech/tech-news/2016/03/03/forty-big-banks-test-blockchain-based-bond-trading-system/

The Bursting of the Bond Bubble Has Begun


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As I’ve outlined previously the primary concern for Central Banks is the bond bubble. CNBC and other financial media focus on stocks because the asset class is more volatile and so makes for better content, but the foundation of the financial system is bonds. And bonds are THE focus for Central Banks.

 

In the simplest of terms, the world is awash in too much debt. The bond bubble was close to $80 trillion in size going into 2008. The Central Banks had a choice to either let the defaults hit and clear out the garbage debt from the financial system or attempt to inflate the debts away.

 

They chose to attempt to inflate the debts away. Put differently, all of their policies were aimed at containing debt deflation… or the process through which debt becomes less and less serviceable leading to eventual insolvency and default.

http://www.zerohedge.com/news/2016-01-13/bursting-bond-bubble-has-begun

Judge Sets $1 Million Bond for Cincinnati Cop Accused of Murdering Samuel DuBose


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Police Officer Ray Tensing, who is accused of murdering Samuel DuBose during a traffic stop in Cincinnati, was arraigned in court today.

Tensing, 25, was indicted Wednesday on one count of murder and one count of voluntary manslaughter for the shooting death of the unarmed DuBose on July 19. He pleaded not guilty. If Tensing is convicted on all charges, he faces life in prison.

The University of Cincinnati police officer appeared in Hamilton County Court of Common Pleas in prison stripes and handcuffs. During the proceedings that lasted just minutes, Judge Megan Shanahan read the two charges and set bond at $1 million, which drew cheers from members of DuBose’s family in court. The outburst prompted a strong rebuke from the judge.

http://abcnews.go.com/US/judge-sets-million-bond-cincinnati-cop-accused-murdering/story?id=32779907

JUDGE SETS $1 MILLION BOND FOR CINCINNATI COP ACCUSED OF MURDERING SAMUEL DUBOSE


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Tensing, 25, was indicted Wednesday on one count of murder and one count of voluntary manslaughter for the shooting death of the unarmed DuBose on July 19. He pleaded not guilty. If Tensing is convicted on all charges, he faces life in prison.

The University of Cincinnati police officer appeared in court in prison stripes and handcuffs. During the proceedings that lasted just minutes, Judge Megan Shanahan read the two charges and set bond at $1 million, which drew cheers from members of DuBose’s family in court. The outburst prompted a strong rebuke from the judge.

http://www.infowars.com/judge-sets-1-million-bond-for-cincinnati-cop-accused-of-murdering-samuel-dubose/