Europe

As part of the annual Credit Suisse Global Wealth Report, which as discussed earlier found that for the first time ever, the "Top 1%" owns a majority, or 50.1%, of the world's wealth...

... the millionaire bankers behind the firm's (Ultra) High Net Worth client division decided to also shed some tears for the world's Millennials, whom they dubbed with one word: "unlucky"... a term which members of said generation will likely wear as a badge of honor (if only to justify their plight in life), while other generations will be eager to promptly mock.

Authored by Jim Quinn via The Burning Platform blog,

Today Credit Suisse released its latest annual global wealth report, which traditionally lays out what has become the single biggest reason for the recent "anti-establishment" revulsion: an unprecedented concentration of wealth among a handful of people, as shown in Swiss bank's infamous global wealth pyramid, an arrangement which as observed by the "shocking" political backlash of the past year, suggests that the lower 'levels' of the pyramid are increasingly unhappy about.

Of all people…

The former head of the conservative Bundesbank believes that central banks need to embrace digital currencies and he’s concerned that they’re being left behind. This might be interesting, we thought. Axel Weber has been talking to the FT but, it turns out, he hasn’t shaken off his bureaucratic roots since he took on the Chairmanship of UBS. Instead of embracing Bitcoin, Ethereum, decentralisation and private enterprise, Weber thinks central banks, and the likes of UBS, will benefit from creating their own versions. According to the FT.

After transferring over the bulk of his personal wealth to his “Open Society” Foundation - the umbrella organization for a network of dozens of political groups that push Soros’s far-left agenda across the US and Europe, Soros is still comfortable enough to justify giving away even more of his money - this time to the US federal government.