SWITZERLAND - Global debt levels are dangerously high and central banks cannot keep the game going indefinitely, warns the high priest of orthodoxy. The Bank for International Settlements said the wild market ructions of recent weeks and capital outflows from China are warning signs that the massive build-up in credit is coming back to haunt. The venerable BIS - the so-called 'bank of central bankers' - was the only global body to warn repeatedly and loudly before the Lehman crisis that the system was becoming dangerously unstable.

USA - Financial luminaries such as Ray Dalio, Bill Gross, Kyle Bass, BCA Research, Ken (“Excel”) Rogoff, John Mauldin and Martin Armstrong think that we’re at the end of a debt supercycle.

Former director of the Office of Management and Budget said we’re facing a “debt supernova”.

Former Fed chief Alan Greenspan said recently debt, deficits and entitlement programs are all coming to a head in a few months, all over the world.

The European chief executive of Goldman Sachs Asset Management warns: There is too much debt and this represents a risk to economies.

The world’s most prestigious financial institution, the Bank of International Settlements (BIS) – known as the “Central Banks’ Central Bank” – writes:

“We are not seeing isolated tremors, but the release of pressure that has gradually accumulated over the years along major fault lines …”

USA - President Obama will apparently test just how far Pope Francis’ notorious tolerance will go by inviting a rogue’s gallery of people opposed to Catholic teaching to greet the pontiff at the White House during his visit next week. In a stunning show of political indecorum, Obama has invited a series of individuals who publicly flout Catholic teaching, including a pro-abortion religious sister, a transgender woman and the first openly gay Episcopal bishop, along with at least two Catholic gay activists. The White House was illuminated in gay pride colors on June 26, 2015, after the Supreme Court legalized gay same-sex marriage. Earlier this month, the Vatican officially prohibited transgender persons from being baptismal godparents posing as the opposite sex from which they were born.

UNITED NATIONS - International leaders have called on Israel to continue a ban on Jewish worship on the Temple Mount, Judaism's holiest site, in order to maintain calm and placate Muslim extremists who have been rioting for three days straight in Jerusalem. UN coordinator Nickolay Mladenov warned during a Security Council meeting Tuesday that clashes between Palestinian rioters and Israeli security forces could provoke violence by Muslims elsewhere in the Middle East. The United Nations is holding a meeting of the Middle East Quartet seeking a diplomatic solution to the conflict on September 30, on the sidelines of the General Assembly session… Meanwhile, United States on Monday condemned "all acts of violence" on the Temple Mount - and urged the Israeli government not to lift restrictions on Jewish visits.

ISRAEL - Starting this past Sunday morning, Israel seized a cache of pipe bombs at the Temple Mount that Muslims were going to use as they rioted over the Jewish New Year. Since then there have been clashes between Muslims and the Israeli police every day at the Temple Mount as Israel has tried to make it safe for Jews to enter. Muslims have been throwing rocks at the only gate used by non-Muslims to prevent them from entering. Of course, we now have Hamas threatening war over Israel’s actions on the Temple Mount. The Obama administration has once again refused to take the side of Israel, giving another mealy-mouthed statement yesterday that all sides should show restraint… Pathetic. But then what do we expect from a president who hates Israel?

UK - Tuna and mackerel populations have suffered a “catastrophic” decline of nearly three quarters in the last 40 years, according to new research. WWF and the Zoological Society of London found that numbers of the scombridae family of fish, which also includes bonito, fell by 74% between 1970 and 2012, outstripping a decline of 49% for 1,234 ocean species over the same period. The conservation charity warned that we face losing species critical to human food security, unless drastic action is taken to halt overfishing and other threats to marine life. Louise Heaps, chief advisor on marine policy at WWF UK, said: “This is catastrophic. We are destroying vital food sources, and the ecology of our oceans.”

USA - Welcome to President Obama’s brave new world. Federal agencies have been directed to hire psychologists to experiment and find ways to better manipulate the American people to the federal government’s will. “A growing body of evidence demonstrates that behavioral science insights – research findings from fields such as behavioral economics and psychology about how people make decisions and act on them – can be used to design government policies to better serve the American people,” Obama wrote in an executive order released Tuesday on WhiteHouse.gov. The origin of the order can be traced back to a 2013 policy proposal entertained by the White House called “Strengthening Federal Capacity for Behavioral Insights.”

TEMPLE MOUNT, ISRAEL - Tehran says Arab states must ‘condemn aggression of Zionist regime,’ while European bloc calls for restraint after clashes. After three days of clashes between Israeli police and stone-throwing Muslim protesters on the Temple Mount in Jerusalem, the European Union warned Tuesday against any “provocation,” while Iran called for an emergency meeting of the Organization of Islamic Cooperation (OIC) to condemn Israel.

GERMANY - Berlin brands Juncker's visions to deepen monetary union as 'unacceptable', rejecting taxpayer rescues for banks and sovereigns. Germany is set on a collision course with Brussels' visions for deeper eurozone integration, by setting out its objections to greater financial risk-sharing in the single currency. Berlin is determined to break the toxic link between distressed banks and indebted governments, and will insist on new "bail-in" procedures to impose losses on private sector creditors in the event of another financial crisis. The eurozone has been thrown into turmoil since 2009, after the banking systems of Ireland, Spain, and Greece were rescued by taxpayer money, loading debt on to government balance sheets.

EUROPE - Competing visions for the future of economic and monetary union are set to tear apart a single currency in flux. With just a week to go before its second general election in just nine months, Greece's political and economic turmoil has faded into the background of Europe's endless institutional drama.

USA - A rise in US interest rates may be justified by conditions in the domestic economy, but it could have profoundly destructive consequences for many emerging market economies. Decision time approaches for the US Federal Reserve. It’s been a long time coming. Yet for all the months of anticipation, and the acres of column inches the decision has already attracted, it will be no less momentous an event. If the Open Market Committee takes the plunge, it will be the first US rate hike in nearly 10 years.

USA - The entire narrative that major western media outlets have crafted around the migrant crisis is a complete fraud. Here are five things the media won’t report about the refugee crisis.

RUSSIA - Islamic State has designs on the holy cities of Mecca, Medina, Jerusalem and endangers Europe and Russia, Vladimir Putin said. Moscow is concerned about IS-trained jihadists returning to EU countries, the CIS [Commonwealth Of Independent States or Russian Commonwealth) and Russia.

UNITED NATIONS - Sustainable development, global security and efforts to diffuse ongoing conflicts, many of which have resulted in explosive global refugee crises, top the agenda of the 70th anniversary UN General Assembly session that has begun its work in New York. The United Nations General Assembly (UNGA) speech marathon will see more than 160 leaders in attendance at the 70th anniversary.

GERMANY - German chancellor will ask UK to stand aside as she promotes ambitious plan to integrate continental Europe’s armed forces, The Telegraph has been told. Angela Merkel will expect David Cameron to drop his opposition to an EU army in exchange for supporting Britain’s renegotiation, the Telegraph has been told.