be a long term jeopardy from wide adoption of digital currencies internationally the bank for international settlements conducted a study that found that over 40 countries around the world have currently developed or are looking into developing a potential currency right i saw that story and that plays into what we've been talking about here because if all these stations create digital currencies script of currencies they would increase the velocity of money and it would get countries away to move away from the dollar and the dollar is feeding the very specific ponzi scheme so it because it is digital gold because in a would be a crease velocity and there is incredible there's very very little friction between these digital currencies amongst countries the velocity of money with skyrocket wages would go up and you would see the club talk or the kleptocracy class would be challenged i would quickly in this last few seconds here say that only big queen is digital gold this is essentially all coin and this will put all those all coins out of business because there's no reason to hold libra there's no reas

you know, the bank for international settlements has done research, a lot of groups have in q3, almost that the unprecedented growth in balance sheets with low rates has caused markets to function wrong. the plumbing isn't working your final thought on how this all fits together. >> no, i mean central banks have done a lot of damage on negative interest rates, on holding inverted yield curves. they should concentrate their actions on the short end of the curve to me so the markets could do their job and be more of the transmission mechanism so the economy can grow better. >> and my final question is, as i embark on what jay powell is going to give us soon about the balance sheet, i guess my final comment is now that the plumbing is smaller and the markets have grown bigger, i think we'll be forced to see all central banks have bigger balance sheets to adjust toward their target rate. is that not correct? >> no, i think that's absolutely correct. i don't think they're going to be getting smaller any time soon. >> marc, thank you for your thoughts always insightful. carl, back to you. >>

for policy. forpoke to the bank international settlements general manager about the risks for monetary policy. >> we are reaching a point where anetary policy can generate small benefit in terms of economic growth but it might generate the probability of less growth in the future if we fall into financial instability in the future. >> in catalonia, spain, separatist leaders are promising a new push for independence. it is a challenge to spain during the 10th week of violent protests. separatist leaders have called for a general election -- general strike today. we spoke to the minister about the political crisis. global news, 24 hours a day on air, on tictoc, and on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. this is bloomberg. back to you. nejra: thanks so much. here is how some of the key players reacted to boris johnson's last-minute deal with the european union. >> a great deal for our country and for the u.k.. it is a good deal for our friends in the eu. i will say that our objectives have been met. >> i am happy that we reached a deal. >> we have

bankeen: the head of the for international settlement. they meet with central bankeeks. of theelf was the head central bank of mexico. i want to get his view of how the risk has shifted. is it a dark cloud that will push everyone toward recession? is thedominguez philippines treasury secretary. a domestically demand driven economy. it will be interesting to hear what he has to say about all of this as well. a lot of others falling into place and we will share that with you over the next couple of days. heidi: very much looking forward to those conversations. toore we handed over bloomberg markets: asia, let's look at how asian markets are trading so far this tuesday morning. the nikkei 225 leading the gains across the region, japanese traders play catch up after the long weekend. little bit of boy and's after the announcements that the government may be providing extra measures to support reconstruction after the typhoon. the cost be looking flat ahead of that rate decision later this week and austria treading water after the rba meeting suggesting potentially more

bank of international settlements gm. we are looking forward to those conversations. let's get to our guests here in sydney. sydney.s us now in before we get to the doom and gloom forision and the global economic some markets hitting their 2019 highs. gains just shyng of 2% and the nikkei, 1.5%. is it the time for japanese equities to shine? >> i guess so, and i think a lot of it has to do with the fact that we have public sentiment on trade. we are getting rumblings that maybe we will be part of a deal at the apec summit when the leaders meet face-to-face. it does usually render some sort of positive outcome. we have china saying they want to see the december tariffs rollback before they would sign any sort of partial deal. maybe president trump could make a concession if we see china make agricultural purchases before the meeting. that is positive for the markets. we have optimism through global equity markets as well at the moment. haidi: this chart goes to why the imf is feeling optimistic as well, global expansion. we are at the end of the cycle but looking ahead to china gdp numbers this week, we are expecting the weakest quarter we have had and what has been