Trump proposes a budget that reinforces the 'America first'

Trump proposes a budget that reinforces the

The budget for 2019 of $ 4.4 trillion released Monday by President Donald Trump reflects the desire of the government of President Donald Trump to focus on “America first” (America first,) and outdoor curb spending as evidenced by the drastic cut of 32% in the highest organ of US diplomacy. But in addition, the new accounts call for cuts in national programs such as Medicare and spending abroad while seeking a sharp increase in military spending and funding a wall on the border with Mexico.

The budget proposal for the next fiscal year, which was presented today and still to be submitted for approval by Congress , contemplates a cut of 17,831 million dollars in funds for the State Department, which goes from having 55,632 million in 2017 to only 37,801 in the proposal for 2019.

The cut in Exteriors contrasts with the increase in funds allocated to the Department of Defense

This cut contrasts with the increase of funds destined to the Department of Defense, which has already received the approval of the Senate for a game of 716,000 million dollars for the 2019 budget.

Although tax revenues will plummet by 3.7 trillion dollars over the next decade relative to last year’s “base” estimates, as projected by the plan presented today, Trump is requesting a record of 686 billion for the Pentagon. , a record increase of 13% compared to last year’s budget.

In comments Monday, Trump focused on increasing spending that he favors instead of the deficits he and other Republicans have pledged to reduce. “We’re going to have the strongest army we’ve had, by far,” Trump said. “In this budget we deal with the military as never before had been taken into account.”

“The budget reflects that we are against adversaries and political, economic and military competitors that have led us to adjust our national security strategy,” Trump said in the preface to the White House budget proposal.

Trump’s budget announces an era of federal deficits of a trillion dollars


Trump’s budget announces an era of federal deficits of a trillion dollars and, unlike the plan he launched last year, never promises a balanced balance even after 10 years. On the contrary, Trump’s accounts would continue adding 7 trillion in the next decade. Growing deficits reflect, in large part, the impact of the tax cut approved last year, which is expected to cause federal tax revenues to plummet.

In relation to the foreign portfolio, it is especially significant the cut in the US contribution to international organizations, which would go from 3.266 million dollars in 2017 to 2.191 million in the next fiscal year.

The contribution of the USA the general budget of the United Nations would be 442,946 million dollars in 2019 compared to 593,267 million approved in 2017. This cut would reach 293 million dollars for the set of agencies and instruments linked to the UN.

Also the funds allocated to peace operations would be significantly reduced

Also, the amount of funds earmarked for peace operations would be significantly reduced, going from 1,907 million dollars in 2017 to just 1,196 million dollars in the new proposal.

Despite seeing this item cut, Secretary of the Department of State, Rex Tillerson, said in the preface of the budget proposal of his ministry that the “selective investments” in this matter will allow the United States and its partners “advance common interests and promote global peace. “

“These investments allow the United States to maintain its position as a global leader, at the same time that other nations make a greater proportionate effort in their contributions for common objectives,” Tillerson said.

In this regard, it should be noted that NATO will benefit from an increase in the US contribution, going from receiving 53.504 million dollars in 2017 to 70.177 million in the next budget.

The Pentagon’s own chief, James Mattis, who is in Europe these days, where he plans to participate in the NATO Defense ministerial meeting to be held this week in Brussels, asked last week for a greater contribution from the countries involved in the war against terrorism.

In this regard, the State Department explained through a communiqué that this item decreases with the “expectation” that other member countries of international organizations “will face their fair contribution”.

Assistance for migration and refugees will also be reduced in the new budget

Assistance for migration and refugees will also be reduced in the new budget

Also in the column of cuts is the World Health Organization (WHO), which suffers a considerable reduction close to 50%, which would go from receiving 111.402 million dollars in 2017 to 58.176 million in 2019.

Assistance for migration and refugees will also be reduced in the new budget, going from 3,366 million dollars in 2017 to 2,800 million in 2019.

“The budget contemplates the necessary resources to progress in aspects of peace and security and respond to global crises, while prioritizing the efficient use of taxpayer resources,” Tillerson said in a statement.

The proposal also calls for a review of Medicare and Medicaid, two government-funded health programs that are very popular. Trump committed himself in the electoral campaign to leave them intact, but the budget plan argues that they can become more efficient without harming the recipients.

These cuts to critical federal investments are so extreme that they can only reflect a disdain for working families. “

John Yarmuth Democrat on the Budget Committee of the House of Representatives

John Yarmuth Democrat on the Budget Committee of the House of Representatives

The proposed cuts provoked a reprimand from the chief Democrat on the Budget Committee of the House of Representatives, John Yarmuth. “These cuts to critical federal investments are so extreme that they can only reflect a disdain for working families and a total lack of vision for a stronger society,” he said in a statement.

The budget foresees annual growth of gross domestic product of at least 3 percent over the next three years, an aggressive target that is crucial to help cover the cost of the $ 1.5 trillion tax cuts approved by Congress controlled by the Republicans in December.

Still, given the growing federal debt as a result of the tax bill and the two-year budget agreement, Trump’s proposal notably abandons the goal of eliminating the federal budget deficit after 10 years, a long-standing goal of fiscal conservatives. .

As for Environment, Trump accounts repeated the bump last year to the Environmental Protection Agency of the United States. Thus, the White House proposes to reduce the agency’s spending by about a quarter of recent levels to 6.15 billion dollars, while discarding a series of programs that it says have ceased to be useful. Up to $ 598.5 million in programs and activities of the environmental agency (EPA for its acronym in English) would be eliminated under the budget request of the Trump administration.

Credit and capitalism casino

Image result for credit and capitalismLas Vegas, – The recovery is under way, the IMF will announce today in its spring assembly. And, as it has to be in times of casino capitalism dominated by finance, the cyclical recovery is synonymous with the start of another phase of debt expansion. According to the Federal Reserve, the debt of families in the US rose 241,000 million dollars – 2.4% – in the last quarter of 2013, to more than four billion (with B) dollars. In the era of stagnant salaries and extreme inequality, it can not be otherwise. “When wages stagnate, the increase in household debt becomes the only guarantee of growth in consumption,” explains Andrew Ross, a sociologist the University of New York. This, in turn, “has placed the creditor class beyond the scope of regulation”. It is the era of creditocracy , the title of Ross’s new book that goes on sale this week in the US ( Creditocracy and the case for debt refusal , OR Books, 2014). Ross argues that credit is already the first source of income extraction for the elite, that 1% of the population, whose economic position has been improving while the rest stagnates. “In creditcycles, the future is mortgaged,” he adds. .

The IMF agrees, warning of the impact of particular debt levels on growth and questions about its sustainability in times of very low inflation, Lo-flation as Christine Lagarde has christened it. It also agrees that inequality is an aggravating factor. “Lower levels of inequality”, warns the IMF in a new report, “are correlated with faster and more sustainable growth”.

Las Vegas, the desert city that grew at a vertigo pace in both economic and demographic terms before the crisis, is a good laboratory to analyze the creditocracy society. Almost as good as Madrid or Valencia.

Going through the shanty towns in the desert surroundings of the casino city, there are no longer many “bank owned” signs. of those who had seen in the previous visit in 2010. The average price of housing has risen 49% from its minimum in February 2012 but is still half of what was paid in the years of euphoria, .. In front of a gold and silver pawn shop in the north of the city, it is not of desperate people forced to sell the jewels to pay their debts but of fans of the reality show “Pawn stars” ( The house of the pawns , History Channel) There are still, yes, thousands of empty homes in Vegas, some of them illegally occupied by cocaine or crystal meth camels or by prostitutes and their pimps. But, do not despair, assure the real estate analysts. Soon they will be displaced by the Wall Street vulture funds that “are being employed thoroughly buying empty homes in Vegas to rent them,” says Daren Blomquist of Realty Trac.

The sprawl (permanent) urbanizations of Las Vegas Norte were notorious for the aggressive predatory strategies of the banks that sold garbage mortgages to the so-called “ninjas” (no income, no job, no rent, no work). “I came from Florida at the age of twenty-five with my husband and we bought a house,” said Miranda, who now works for a minimum salary of $ 8 an hour at the Venetia casino hotel of tycoon Sheldon Adelson, promoter of the Euro Vegas project. But “we could not pay the mortgage debt and we separated.” In general, in the United States, says Ross, “an idea was institutionalized that becoming a first class citizen went into debt.” In the credit crisis, “we only realize that we have permanent debt when we can no longer pay it,” he adds.


Image result for gearsTo keep the machine running, the banks offered loans backed by the housing that were used to pay for the credit card service. “The use of credit cards to pay mortgages, student loans and medical debt, guaranteed a constant flow of funds. money to companies like Visa, or MasterCard that charged 15% on credit cards, “explains Ross in his book. The average debtor paid 2,277 dollars a year to those creditors in the last year of the boom. . According to data from the Federal Reserve, in 2007 the debt of American families had reached 130% of GDP compared to 43% in 1980. One in every five dollars of the net income of the average family went to Wall Street for the service of the debt. And, like the casinos on the Vegas Strip that provide credit lines for loyalty to the most inveterate players, most addicted perhaps, the best banking business is to grant credit to stagnant income citizens who could never repay it, it is what drives the growth in the casino economy. Until you start using the term “existential debt”, necessary simply to not die. In 2007, 60% of personal bankruptcies in the USA. they were due to medical costs and the debt contracted to pay for health services did not fall in the years of the crisis. “We will never reimburse all the debt because the income of the creditor class depends on keeping us hooked on a permanent basis,” warns Ross .. The motto of the era of credit – summary – is a sticker that was seen in some cars In U.S.A. during the bubble years “I use MasterCard to pay back Visa” (I use MasterCard to pay Visa)

The aftermath

Image result for financial crisisIn the aftermath of crisis, many have been forced to turn to shark lenders who appear as mushrooms in the poor housing estates of North Las Vegas. “We will lend up to $ 10,000 as long as you leave the car as collateral,” said the representative in Cash One, one of the so-called payday lenders in Las Vegas. A payday lender charges an annual interest of between 390% to 550%, according to Ross’s calculations .. “In the eighties these shark lenders hardly existed,” he explains. “Now, there are more Payday lenders than McDonalds.”

The unpayable debt crisis happens right now from the muddy homeowners, to the students. The average student in the USA It owes 29,000 dollars (22,000 euros) and a third of the loans are already delinquent. Student debt now stands at the astronomical figure of 1.2 trillion dollars, 80% on the balance of state creditor Sallie Mae. The student indebtedness is the sine qua non of the porvatzación of the university education in the USA. the University of New York (NYU), for example, a year of studies costs more than $ 60,000 and it is no coincidence that NYU is one of the dark spots of the student delinquency crisis. According to a report prepared by a commission in the Senate, 96% of its students in private universities are indebted. . One in five will end up in suspension of payments and 63% of these students, dragging a huge burden of debt, end up finishing their studies without graduating.

How to fight against creditocracy? One of the most interesting initiatives of all the anti-creditocracy campaigns that have come out of the protest movements like the 15-M Spanish or Occupy Wall Street in the US, is the purchase of debt in the secondary market carried out by the Strike Debt campaign in the USA Few families in financial distress know this but when they stop paying their interest payments during a certain period, the bank sells the debt at a discount and counts the delinquent credit as a loss, which reduces its tax bill. Then, companies specialized in intimidation tactics try to collect this debt, making the margin profitable. “It is a turbulent world of feeders who feed on the bottom of the sea,” Ross said at a conference given at New York University last month. “Debtors receive threats of being brought to trial, imprisoned, sometimes physically assaulted.” There are some 4,500 companies in the USA. dedicated to collect families in distress after buying their debts at discount prices in the secondary market.

Strike debt tried to turn this process around through a “Robin Hood” intervention in the financial markets. He raised more than $ 600,000 through “crowd financing” on the internet and used the funds to buy debt and then forgive it. Almost 15 million dollars of debt – mainly related to the costs of medical treatment – was condoned. “15 million is a drop in the ocean but it has been a didactic campaign and we have emboldened people in distress; When you know that a company has bought your debt for two dollars, you speak differently when a debt collector calls you on the phone threatening you, “Ross said at a conference in New York

No money in the box and no credit

Image result for public debt

The crisis of confidence in the public debt that shakes the world economy has arrived as it says at the door of the house. Nothing like the proximity to feel the cold in the body, the direct effects of events that are followed through the press or television news. In the economic and political world, the fact that the Generalitat, for the first time in 30 years, has had to postpone the payment of more than 600 million euros to the contracted hospitals has generated real anxiety. The delay, between 15 and 30 days, is the consequence of the fact that the Catalan Administration has not been able to ensure that its debt would find buyers under acceptable conditions in international markets. It was tried, but it was not possible.

The states, like most companies, do not keep the money in the box to meet future payments. When they have liquidity, they invest it for profit by placing the money in deposits or any other kind of assets. When they have a deficit, as is the case of the Generalitat and of practically all the public administrations of the world, they program debt issues and request bank loans as they foresee that they will have to pay for the payments. The smooth functioning of these markets and that offer affordable financial conditions, reasonable interest rates, are a necessary condition for states to finance their services even when they spend more than they enter, as is obviously the case at present.
In the case at hand, the department headed by Antoni Castells had planned to face the payments to the health service agreed, and others not specified, issuing debt in international markets. But these are dry. Hence the postponement.

It is not that there are new problems on the side of the ordinary income of the Administration, via tax collection. These evolve according to the budgeted, “even something better than expected,” say sources close to the Administration. Simply, the markets are saturated with public debt, especially that coming from southern Europe.

Thus, Castells and his people now have no other alternative, as long as the situation of debt markets does not improve, rather than resorting to Spanish financial institutions in search of credits with which to meet the anticipated disbursements. The problem on this front, according to financial analysts, is that the main concern of the financial system is liquidity, to have cash. For this reason, also obtaining credits in the amounts demanded by the administrations is becoming increasingly difficult. Are we entering a phase in which the administrations will have more difficulties to meet the payment of their debts? Definitely. Go prepare for even longer payment periods, no matter what the law says about delinquency.

States must pay to buy their securities

States must pay to buy their securities

The obvious consequence of the restriction of the public debt market is the increase in the interest rate that states must pay to buy their securities. After some days of relative decline, they returned to enter feverish. Except in the case of Greece, which has managed to reduce it because the European Central Bank (ECB) buys its debt, in the cases of Spain, Italy (although in the market it is assumed that its central bank acquires its own debt) … and France (oh, la la) has resumed the path of the rises, leaving Germany almost alone as the only refuge considered safe by investors.
The beneficial effect of the agreements of the already famous European summit on May 9 seems to have been exhausted. In record time. In that meeting it was agreed to create a fund of 750,000 million euros to shield the euro and that theBCE bought directly public debt of countries with problems to give liquidity to the market and avoid the escalation of interest rates that had to pay. How is it possible that, despite such ambitious plans, things have gone so badly in such a short time? In some European political and economic circles the failure is attributed to the brutal confrontation between Germany, its chancellor, Angela Merkel, and France, with its president, Nicolas Sarkozy, at the head, which marked that summit and which has grown ever since.
The German press, citing sources from his government, has called the “French plan” to the fund agreed at the summit in Brussels on May 7, has accused Sarkozy of having advanced his arrival to that meeting to meet first with José Sócrates, the president of Portugal, Silvio Berlusconi, prime minister of Italy, and Zapatero, in order to explain his plan to impose it later on the Germans.
Regarding the purchase of public debt by the ECB, a much more relevant point these days, it is already known that one of its most outstanding members, Axel Weber, the president of the Bundesbank, the central bank of Germany, voted against. According to the German media, the Bundesbank’s council considered rejecting the agreement, which would have caused an unprecedented economic and political crisis, although it finally complied with it.

Now, the Bundesbank is accusing the president of the BCE, the Frenchman Jean Claude Trichet, of leading a French plot, along with Sarkozy, so that the central bank purchases almost exclusively Greek public debt, although this one is already protected by a fund of specific aid, and in this way facilitate that the French bank, the most exposed to Greece, can sell their securities without losses. Whether it is true or not, a schism at the European peak that explains a good part of the problems of these days. The first effect of the German complaints is the decrease in the buying activity of the ECB and the return of the tension to the market. It is not strange that under these conditions the markets doubt and bet for more problems with the public debt in successive days.

Milk and milk are one of the food groups that most controversy and positions

are raised among the general population. On the one hand there are those who defend at all costs a mandatory daily consumption , beyond the scientific evidence with which today is counted; and on the other hand we have those who, with rather outdated arguments, condemn and discourage their consumption, alleging their unnatural use by human beings (as commented in the post Is the Human Being the only one who consumes milk after breastfeeding? 

The presence of milk and its derivatives in the best-known dietary guidelines has undergone

a considerable evolution, although, it must be acknowledged, in most of the official dairy products still have a prominent role . But before continuing, you will allow me to highlight one of the greatest inconsistencies that we can find among those official guides that do daily dairy consumption (and also several servings a day) one of their most fervent recommendations. I’ll leave it in the form of a question: Why do all those guides that affect the “need” for the daily consumption of milk or its derivatives (normally 2 to 4 servings per day as our current “pyramid”) include the icon of this group on the third rung of the pyramid? if it is so “important” should not this group of foods appear on the first and most important of the steps? This is one of the reasons, as we will see in successive chapters, why the “pyramidal” scheme seems to me an error: there is no way to interpret it in a logical way and it lends itself to many contradictory ones.

In my opinion, the insistence with which dairy products are so commonly presented in a large part of the recommendations is due to two circumstances , one derived from the other but, honestly, I do not know in what order (and maybe you prefer not to know) : on the one hand the important amount of calcium from which this group of foods is a good dietary source and, on the other hand, the interests of the industry so that this type of food is so prominent in the guides , something of the that you can find a good sample in the vicissitudes of the McGovern report (see previous chapter).

In fact, one of the most successful advertising campaigns in the field of food in the United States is known as Got Milk? (Do you have milk?) Which since its birth at the beginning of the decade of the 90s catapulted the consumption of milk and derivatives in that country dramatically when precisely the sector lived one of its worst and longest crisis. So with frankly powerful strategies (and sometimes controversial in relation to their suitability) the campaign Got Milk? riveted in the consciousness of Americans the need to drink milk to achieve bone health iron. The first of the videos that I leave here was with which the campaign debuted (frankly funny and without much malice) to end, among others, in bets as risky as the second.

However, to this day and despite the fact that the official US recommendations continue to highlight in an important way the suitability, when not necessary, of dairy products in the daily diet from its most modern tool, My plate , (as in our current pyramid, and what has also been known in its next successor) there are other recommendations that with more science and, a priori, perhaps less commercial interests , are not for the task of making so much emphasis on the need for their consumption and , beyond this, put the accent on dairy, yes, more or less, but without overdoing it.

As you may expect, one of those guidelines I refer to is the Healthy Eating Plate from

As you may expect, one of those guidelines I refer to is the Healthy Eating Plate from

the Harvard School of Public Health (HSPH) that argues that there is little or no evidence that a high intake of dairy favors a Bone health or protect against osteoporosis, and more on the contrary, there is considerable evidence that high consumption can be more harmful than beneficial. Issues all about which it is worth entering into details.

To say that calcium is a key element for the health of the bones is not exactly a breaking news. Thus, the inclusion from the diet of sufficient calcium from childhood to adulthood helps the formation and strengthening of the bones at the beginning and, later, to slow bone deterioration as we age. However, it is not at all clear that we need more calcium than is generally recommended, nor is it clear that dairy products are really the best source of calcium in general.

While calcium or dairy may decrease the risk of osteoporosis and colon cancer, a high intake of this group of foods could possibly increase the risk of ovarian cancer at the same time.

There is a clear dichotomy between those who defend the recommendation of milk consumption in favor of superior bone health, and those who maintain that the consumption of dairy products in addition to having a modest incidence in bone breaks can also lead to an increase in certain risks among them. and mainly about cardiovascular health and prostate and ovarian cancers. The fact is that we put ourselves as we put ourselves there is no forceful decision . But there is room to reason.

On the first question (summarized in the form “take a lot of milk to have strong bones”) you have to consider multiple factors beyond this advice that is somewhat simplistic and exclusionary. Simplistic because to achieve adequate bone health there are many factors at play. The presence of calcium in the diet is and does not have to be the most important ); they also influence and very importantly: the adequate presence of vitamins K , not to go over with the amount of vitamin A, to have an adequate, but not excessive, protein intake , not to go through the drinks in particular of cola , and to have a pattern of active life. And exclusive because milk is not by far the only source of dietary calcium, nor is it even essential . It is possible to arrive without problems to an adequate intake of this mineral without resorting to milk or dairy products, for example with: dark leafy vegetables (chard, spinach, cabbage …); legumes, nuts, preserves of canned fish such as sardines or anchovies or many fish, especially those that are consumed “whole”.

In relation to the second question (summarized as “taking too many dairy products increases the risk of suffering from different pathologies”) is not clear. There are certain evidences that point in that direction so, being realistic, one should not be blunt. We will have to wait for future research to see if this problem can be clarified, in one way or another.

Therefore with all this information I conclude

Therefore with all this information I conclude

given that currently the consumption of more than one serving of milk per day within a reasonable diet with other sources of calcium will not lead to a greater reduction in the risk of bone fracture; and second: taking into account the possible, not yet clarified, increased risk of suffering certain disorders from the increase of this type of food with its nutrients … it could be advisable not to recommend a higher consumption than the aforementioned one serving a day … as much .

In summary: in my recommendations, dairy products would be present, but not to boost or favor their consumption (like the current one, estimated at 2 to 4 servings per day) but to invite their control while inviting greater diversification Dietary with other food groups source of calcium .

The Provincial Court of Asturias cancels a multi-currency mortgage

The fourth section of the Provincial Court of Asturias has annulled a multi-currency mortgage subscribed by an Asturian bank with a bank in June 2008 to finance the purchase of his habitual residence. This is the first sentence applied in the Principality by the recent doctrine of the Court of Justice of the European Union, set on September 29 of this year.


What is a multi-currency mortgage?

What is a multi-currency mortgage?

 A multi-currency mortgage is a mortgage referenced to currencies whose interest rates were at the time of contracting lower than the Euribor and which allow the option between different currencies, normally Japanese yen or Swiss francs, dodging those with higher interest rates such as of the Euro zone.

In the judgment of the Provincial Court of Asturias, dated October 4 and which has had access to Europa Press, it is admitted that the risks of these loans exceed the usual mortgages arranged in euros at variable interest, since the risk of variation The risk of currency fluctuation is added to the interest rate, reaching the point that the borrowers subsequently had a higher amount in euros than they received when the loan was signed and “absolutely disproportionate” with respect to the property value they financed through the Subscription of this type of loan.

The client, who had subscribed the multi-currency mortgage with Bankinter, was represented by the office of Gabeiras y Asociados (Madrid) in collaboration with Rimada Abogados (Gijón). In the judgment, the Provincial Court annuls the contract exclusively in the part referenced to multi-currency because, according to the Chamber, the bank did not observe the duty of information in the granting of a loan, which was requested in euros and also in this currency was given the capital, although referenced to yen.

Thus, the mental representation that could be made any person was to obtain a certain capital in euros, which would gradually be amortized, although the amount of the successive installments was subject to fluctuations that could have the currency to which it was linked

So that the consumer could have a thorough and sufficient knowledge of the economic consequences of the product that he hired, the Court’s argument continues, it was not enough to show him the obvious advantages that then involved hiring him in a foreign currency, nor could he understand the operative mechanics of a loan referenced to currencies.

Property loss could be originated in real terms

Property loss could be originated in real terms

A performance “loyal and in accordance with the principle of good faith” required that the bank had exposed the risk of a possible appreciation of the currency and that if this assumption were made, it could even be higher than the initial capital in euros despite the amortizations made. That is to say, a property loss could be originated in real terms. This involved presenting various simulations according to the various possible hypotheses of appreciation and depreciation of the currency, and how they would influence the quota and the outstanding balance in euros.

They should have even transmitted the forecasts that existed then and that the bank knew, which, even when they were short-term, already showed a revaluation that would harm the consumer. If all this had been brought to the attention of the consumer, which in this case was not accredited by the bank, it is reasonable to think that the bank would not accept a contract with the multi-currency clauses, given the significant risk involved and the scope for which it was contracted. : acquisition of a habitual residence, in principle foreign to any speculative purpose.

The Audiencia affirms that only after the signing of the contract could the client verify the negative evolution for him of the exchange rate, and that the subsequent information can not replace the one that the bank had to offer at the time of subscribing the mortgage loan.

The ruling shows that the lack of information caused a “manifest harm” to the plaintiff, who saw that even paying fees much higher than initially contemplated, the balance in euros did not decrease, as in any loan, but it increased after several years of payment.

The consequence of this lack of information included in the judgment is to declare the nullity of the multi-currency clauses of the contract in question as of right. In this sense, as explained by the Asturian lawyer Celia Rimada, the court does not see any obstacle to declare the partial nullity of the contract because it can endure without the multi-currency pacts, since the mortgage itself contemplates the double system, according to be its application in euros or in currencies.

“For this reason it is possible to suppress the multi-currency clauses with retroactive effect and with the subsistence of the business, but operating from the beginning as a loan in euros, referenced to the Euribor,” he explained. That is, the client keeps his mortgage loan agreement with the bank but referenced to the Euribor, in such a way that the amount owed by the claimant is the outstanding balance of the mortgage as if from the beginning it had been referenced to euros, condemning Bankinter to reimburse the client what he would have paid more than what he should have paid if the loan had operated from the beginning.


Mini loans without interest – Free money NOW

If we need financing with immediacy, we have the option of requesting mini-credits without interest thanks to the offers of the private lenders. With this type of interest-free mini-loans, we will have the ability to solve economic setbacks that can jeopardize our economic stability at specific times for free.

What are mini loans without interest?

What are mini loans without interest?


Online payday loans without added costs you can find direct lenders online. As a result of the proliferation of companies engaged in the cheap mini loan sector, competition has increased considerably. As a result, lenders now have to launch products with more attractive offers. This is a benefit for us as customers because companies have to make an effort to offer promotions that for us are cheaper, such as mini-credits without interest:

  • The fact that they are without interest means that we can apply for free mini loans. If interest is not generated, the cost of the loan does not increase. However, with a usual mini-loan for 100 euros to be reimbursed within 30 days, it could cost us 33 euros. With a free mini loan, we would only have to pay the 100 euros that they granted us in the agreed term, since no fees will be generated, for that reason we would save the cost of the interests that take place in a habitual mini credit.

Before applying for mini-credits without interest, we have to be sure that it is the best option to get money because we have to be able to repay the borrowed capital on time. Otherwise, if we do not return the money within the agreed period, we will have to pay the costs for the delay, which are usually higher than the normal interest.

Main advantages of mini loans without fees

Main advantages of mini loans without fees

Mini interest-free loans have been consolidated in the loan market since their appearance because they have different benefits for the clients that request them. Below we can see the keys to its success:

  • Accessibility: this is one of the fundamental advantages of online mini-credits since they hardly request requirements to access them. The requirements we must meet are to be of legal age, reside in Spain, have a regular source of income and have no outstanding debts that make us appear in a delinquency file. This last factor will depend on the lender since there are some who do grant mini-loans with ASNEF.
  • Immediateness: when we request a free mini loan, they will give us the answer as to whether or not they have approved our application, usually immediately. Once we have given the green light to our request, we will proceed to transfer the money in a matter of minutes. Therefore, we can enjoy the capital in our account in a maximum time that is usually around 15 minutes.
  • Online management: the application process of the mini loans without interest is 100% via the Internet. This means that the procedure will be faster, both for hiring the mini-credit for free and for obtaining the money. In addition, the convenience to request it is greater since we only have to fill in the form with the data that they ask for and send the necessary documents by email.

All these factors are valued positively by customers, who usually request free mini loans in times of urgent financial need and with them, we can access money easily. Another advantageous aspect is that we will not have to explain why or why we need the loan.

What do we mean by mini online loans?

What do we mean by mini online loans?

The mini online loans arise during the crisis that affected Spain in 2008, as a result of the slowdown in the granting of loans by banks and to help at specific moments. Taking advantage of the conjuncture appear, private lenders, offering quick money to many people who needed it with immediacy. This type of quick loans had a purpose different from the usual loans because they were of lower amounts and were designed for situations in which economic uncertainties arose.

Main characteristics of the mini loans

Online mini-credits are sold by private equity companies through the Internet, so we can request them from our computer or from any mobile device.

  • Quantity. This type of loans consists of loans that offer up to 1,000 euros and are intended to cover contingencies for which we do not have the necessary temporary liquidity since their amounts are not very high. The money they will give us access will depend on whether we are already clients or if it is the first time we request it.
  • Term. If we get the money we want, we will have to return it within a maximum period of 30 days and in a single payment fee. In some cases, they will allow us to extend the term if we do not have sufficient solvency to pay the capital and interest at the moment. However, this would increase the total cost. We also have the option to reimburse the credit in advance, which would save us the payment of interest accrued during the remaining days. Anyway, with the mini loans without interest, this possibility is not necessary because they do not involve commissions of this type.
  • Cost. The cost of fast mini-credits is 1.1% daily, so 100 euros requested at 30 days would cost about 33 euros of interest, which makes a total of 133 euros to be amortized. If we choose minicréditos without costs we will not have to pay capital for fees.

This type of quick loans, therefore, we can use for purposes other than the usual loans, as we see offer lower amounts and are designed for situations of economic unforeseen.

3 documents for the mini loans without interest

Mini interest-free loans do not require a lot of paperwork when applying for them. The documents that private lenders will ask us will depend on the one we use, however, most of them usually require the following:

  • Identity document: any document that proves our identity, our age of majority and that we reside in Spain, such as DNI, NIE or passport.
  • Proof of income: so that the lenders certify that we have a regular and sufficient income.
  • Bank statement: we must present a bank statement so that the lenders can see the income and expenses and also the number of our current account in which we are owners so that they can transfer the money from the credit.

To proceed with the approval or denial of the loan, private equity companies will study the veracity and economic capacity shown in these papers. Obviously, the documents must be in order for the company to perform the analysis (they must be valid and perfectly legible). At the same time, interest-free mini loans are usually processed and granted 100% online, so they will ask us to provide an email address.

How to get fast money without cost?

How to get fast money without cost?


It is possible that we are in a situation of lack of funds to face economic setbacks that we did not expect and that we think about requesting free mini-credits. At best, we still have doubts about who to turn to or how the return process works, so the team has developed a free guide in which we will discover everything we need to know if we want to get fast money. In this way, we will have access to all the information related to online mini credits and we will be able to collect more data on how to obtain financing, also of other types such as quick loans or personal loans, which have somewhat different characteristics. In this practical guide, you will explain:

  • The terms we must manage to better understand what fast loans consist of.
  • It will also show us the repayment terms and the cost of this type of loans.

In addition, depending on our profile we can see which credits are best suited to us, taking into account the level of our income or whether or not we appear in a delinquency file.

Sunday, October 15, 2017 (04.00 GMT)


, which includes important restrictions on air, sea and road traffic. Macao (a peninsula and an island) suspended all maritime transport and public buses, while a total of 61 flights have been canceled. In addition, the authorities of the Portuguese excolonia have recommended citizens and tourists to stay inside homes and hotels and be alert to signs of flooding caused by heavy rains planned.



The Hollywood Academy expelled producer Harvey Weinstein on Saturday, involved in a huge scandal of sexual abuse and harassment, and decided to send the world the message that the era of ignorance and the complicity of sexual abuse in the film industry it’s over. “What is in question is a very serious problem that does not take place in our society,” the Hollywood Academy’s board, which is in charge of the Oscars and made up of 54 important icons of cinema, such as Tom Hanks, Whoopi, announced in a statement. Goldberg and Steven Spielberg.


At least 30 people died this Saturday in a bomb attack, which is blamed to the Somali terrorist organization Al Shabab, against a hotel in Mogadishu. The attack, perpetrated next to the downtown Safari hotel at around 15.40 local time (12.40 GMT), is the deadliest in Somalia’s capital since the elections last February, and also caused a large number of wounded although it is still unknown the exact figure, according to the Horseed News portal.



The Venezuelan opposition accused on Saturday the president of Nicaragua, Daniel Ortega, and his wife, Rosario Murillo, of being “the main advisors” of the Government of Nicolás Masuro in the “organization of electoral frauds” after denouncing the presence in the country of Nicaraguan experts “in fraud techniques”. “Ortega and his wife Rosario Murillo are unconditional allies of Nicolás Maduro, both of whom have now become Maduro’s main advisers in the organization of electoral fraud,” the opposition alliance Mesa de la Unidad Democratica (MUD) said in a statement.



 The Venezuelan opposition, grouped in the Table of the Democratic Unity (MUD), asked this Saturday to its supporters to be prepared so that on Monday, after the regional elections of today, go massively to support and defend the electoral results in each state where they obtain the victory. “We are prepared so that on a massive Monday we go to the streets to support in a peaceful and clear way the electoral result in each of our states where we win, which we know will be the majority (…) we will defend it there,” he said. the first vice-president of the Parliament, the opposition Freddy Guevara.



A group of Venezuelan lawyers and citizens has asked the Supreme Court of Justice (TSJ) appointed by the Parliament of their country, with an opposition majority, and installed on Friday at the OAS to suspend the regional elections of today and annul the “actions contrary to the Constitution”. After a series of arguments, among them that the ruling National Constituent Assembly (ANC) has decided to consummate a “coup d’état” by not knowing the separation of powers and changing the date of the elections, the group maintains in a document that “the future elections to governors must be suspended “by the TSJ. The signatories consider “impossible to accept” that an election is handled by “a non-existent entity in law” as the ANC.

Former Odebrecht boss says he financed Cabello campaign for 2008 elections

The former president of Odebrecht in Venezuela Euzenando Prazeres de Azevedo claimed to have financed the campaign of Chavez leader Diosdado Cabello in the 2008 regional elections, in which he aspired to be governor of the state of Miranda, according to a video released this Saturday by ex-prosecutor general Luisa Ortega. “I have a list of candidates that we contributed from 2004 to 2013 and I made a list with several candidates here, for example, in the municipality of Los Teques or the candidate for governor (in 2008 the state of Miranda), Señor Diosdado Cabello”, reveals Prazeres de Azevedo in the video distributed by Ortega and recorded on December 15, 2016.

Rohani calls for a “constructive role” for the EU to protect the nuclear agreement

Rohani calls for a "constructive role" for the EU to protect the nuclear agreement

The Iranian president, Hasan Rohaní, expressed his hope on Saturday that the European Union (EU) has “a constructive role” to safeguard the nuclear agreement of the recent “erroneous movements” of the United States. “I hope that all the member countries of the EU play their constructive role in maintaining the agreement and take good advantage of the opportunities for collaboration,” Rohaní said, according to a statement from the presidency, following the threat of US President Donald Trump of leave him.


The two Libyan governments resume the dialogue in Tunisia under the auspices of the UN

 The negotiation committees of the west and the east of Libya resumed the dialogue in Tunisia this Saturday after their respective governments accepted the first package of amendments to the National Agreement of 2015 proposed by the new special envoy of the UN, Gassam Saleme According to a statement released by the UN Mission for Libya (UNSMIL), the Lebanese diplomat congratulated the leaders of both committees at the beginning of the meeting, which was held behind closed doors at a hotel in the north of the Tunisian capital.

Temer’s defense disqualifies new testimony implicating him in corruption

The defense of the president of Brazil, Michel Temer, disqualified this Saturday the testimony given to the justice by a financial agent who suggests that the agent chief executive actively participated in a presumed corrupt plot assembled in the Congress. “They do not pass empty accusations, without foundations or evidence,” lawyer Eduardo Carnelós, head of the president’s defense team, said in a note about videos obtained by the Folha de Sao Paulo newspaper in which financial agent Lucio Funaro maintains that Temer benefited from illegal maneuvers.

Ofelia reaches category 3 towards the Portuguese archipelago of the Azores

The eye of hurricane Ofelia, which reached Saturday category 3 of the Saffir-Simpson scale, was at 2100 GMT south of the Portuguese archipelago of the Azores with maximum sustained winds of 115 miles per hour ( 185 kilometers per hour), reported the National Hurricane Center (NHC) of the United States. Ofelia, the sixth largest hurricane of the current hurricane season in the Atlantic, was 235 miles (375 km) southeast of the Portuguese islands, according to the bulletin issued at that time by the meteorological center, based in Miami.

USA asks the IMF and WB for major internal reforms and focus on the private sector

 The secretary of the Treasure of the United States, Steve Mnuchin, asked Saturday a significant reform of the IMF, that prevails the impulse to the private sector and the deregulation, and of the World Bank (WB), so that it centers the effort in poor countries and stop lending to middle-income countries like China. “As the IMF moves into the period following the global financial crisis, we urge the institution to structure its lending programs to prioritize reforms that drive economic growth guided by the private sector,” Mnuchin said in his statement to the Finance Committee and Monetary of the organism.

Oil spill in the Gulf of Mexico due to underwater pipeline rupture

 A spill of almost 400,000 gallons of oil occurred about 40 miles (64 kilometers) off the coast of Louisiana, in the Gulf of Mexico, due to the rupture of a submarine pipeline, reported the Saturday the United States Coast Guard. The flow of oil from the pipeline has been controlled and the spill is equivalent to more than 9,000 barrels of crude oil (1.4 million liters), according to the firm LLOG Exploration, operator of the facility, as reported by The Wall Street Journal .

The liberated Taliban family asks Afghanistan to go after their captors

The liberated Taliban family asks Afghanistan to go after their captors

The Canadian Joshua Boyle, the father of the family rescued in Pakistan, on Saturday called on the Afghan government to persecute the “stupid” and “evil” network Haqqani, a terrorist organization linked to the Taliban and that He kept kidnapped for five years. Speaking to reporters at the Toronto International Airport, Boyle said his captors committed a lot of atrocities, came to rape his wife, the American Caitlan Coleman, and killed his daughter Martyr Boyle, who was born in captivity as the others three children of the marriage that did survive.