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Claudio Grass

Claudio Grass

Claudio Grass is a passionate advocate of free-market thinking and libertarian philosophy. Following the teachings of the Austrian School of Economics he is convinced that sound money and human freedom are inextricably linked to each other. He is one of the founders of GoldAndLiberty.com.

Articles by Claudio Grass

THE WAR ON CASH: A CLOSER LOOK AT ITS FAR-REACHING IMPLICATIONS- PART I

1 day ago

Much has been said and written over the last years on the topic of the gradual elimination of cash that we witness in our economic activity and everyday transactions. The massive and widespread political campaigns and practical measures geared at making cash a thing of the past and encouraging the use of electronic money instead have been a deeply divisive issue, especially as the institutional pressure intensifies.
The push for a cashless society
It is true that the rise of plastic money, online payments and electronic transactions has been to a large extent the result of technological progress, faster and more reliable processing systems, as well as consumers’ familiarity with the online world and automation that increased exponentially in the last decades. However, it wasn’t just

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REAL RECOVERY OR MARKET TRICKERY? Claudio Grass On The Everything Bubble – And The Asset Class That’s Still Cheap

8 days ago

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Mainstream analysts and market bulls have some powerful numbers on their side: government-published unemployment figures remain low, America just had the best first quarter of a year for stocks since 1998, and the U.S. dollar is still the world’s reserve currency. But is all of this really indicative of a strong economy and a sustainable market, or is it just an illusion?
You have a right to know the truth, so Portfolio Wealth Global just published a powerful interview with markets and commodities expert Claudio Grass of Precious Metal Advisory Switzerland, located on the world wide web at ClaudioGrass.ch. Mr. Grass is a Mises Institute Ambassador and a renowned independent precious metals advisor based out of Switzerland.
Prior to founding the Precious Metal

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THE CURRENT MONETARY ORDER IS NEARING ITS END

12 days ago

Interview with Dimitri Speck
Given the massive intervention and monetary manipulation experiment by central banks over the last decade, the amount of distortions created in the market, as well as the record debt accumulation at all levels of the economy, have given rise to considerable risks for investors. For a more detailed understanding of these issues and for his outlook, I turned to Dimitri Speck, a renowned expert in the development of trading systems and in seasonal analysis, whose experience and successful career spans over two decades. Mr. Speck, founder and head analyst of Seasonax, also has valuable insights into the history of the gold market, as illustrated in his book “The Gold Cartel”. He therefore has

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THE CURRENT MONETARY ORDER IS NEARING ITS END

12 days ago

Interview with Dimitri Speck
Given the massive intervention and monetary manipulation experiment by central banks over the last decade, the amount of distortions created in the market, as well as the record debt accumulation at all levels of the economy, have given rise to considerable risks for investors. For a more detailed understanding of these issues and for his outlook, I turned to Dimitri Speck, a renowned expert in the development of trading systems and in seasonal analysis, whose experience and successful career spans over two decades. Mr. Speck, founder and head analyst of Seasonax, also has valuable insights into the history of the gold market, as illustrated in his book “The Gold Cartel”. He therefore has a very unique perspective, forged through his experience developing

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Fed policy U-turn and US markets: “An eternally high plateau”

18 days ago

“An eternally high plateau”
US markets made headlines once again, as they reached new highs recently, continuing a rally that seems to defy gravity and common sense. Despite the rise in investor anxiety and heightened volatility that seemed to signify a possible end to the bull market at the final quarter of the last year, exuberance has returned since the beginning of 2019, while overall the S&P 500 has risen by more than 300% since its March 2009 lows. Valuations are extremely high and investors are paying incredible premiums, buying largely overpriced equities, out of a very widespread “fear of missing out”.
Record profits might seem enticing at first glance, yet they quickly become a warning sign instead of an invitation when one realizes that they are fueled by stock buybacks,

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TURKEY’S INEVITABLE RECESSION – PART II

22 days ago

Spillover effects
Turkey’s debt problem, coupled with the plummeting lira, is arguably the most important risk factor for the nation’s economy. To make matters worse, far from it posing a threat just to Turkey itself, it also has the potential to inflict significant damage elsewhere too, starting with key economies in the Eurozone.
At first glance, the situation in Turkey might resemble many past similar scenarios of a heavily indebted nation with a plummeting currency that descends into a severe recession and eventually gets bailed out, like Greece. However, there is one key difference that makes Turkey’s debt problem much more complicated and potentially dangerous. Unlike Greece, Italy or other seriously debt-laden economies, it’s not just government borrowing that’s the main risk

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TURKEY’S INEVITABLE RECESSION – PART I

27 days ago

Turkey has been almost constantly in the news over the past year, as troubling headlines about its economy and political situation continue to pile up. In a currency meltdown that escalated last summer, the Turkish lira has plunged by nearly 40%, threatening the Turkish economy as a whole. In January, inflation topped 20%, with skyrocketing food prices having an especially severe impact on the population. At the same time, unemployment hit 14.7%, its highest level in a decade, and a figure that’s only expected to rise further, as the Turkish economy is projected to contract by 2% in 2019. Politically, the country’s intense friction with the US, as well as its internal upheaval, have also provided plenty of reasons for concern and clouded its outlook going forward.

An artificial boom

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THE WIEDMANN BIBLE – AN EXTRAORDINARY WORK OF ART

April 11, 2019

An interview with Martin Wiedmann
The Wiedmann Bible is an extraordinary work of art and a testament its creator’s passion and dedication. Created by Willy Wiedmann in over 16 years, the book depicts the entire Old and New Testament in 3,333 hand-painted images. In its original leporello/concertina book form, it unfolds to a total length of over 1km, revealing the truly herculean nature of the task that the artist undertook and successfully completed.
However, if there is anything more impressive and extraordinary than the book itself, it is the man who created it. Endowed with a rare and multifaceted artistic talent, Willy Wiedmann was a painter, musician, composer, poet and writer, as well as a gallery owner and art dealer. He dedicated his life to art, he experimented with

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SOUND MONEY: A BIBLICAL PERSPECTIVE – PART II

April 8, 2019

«Because gold is honest money, it is disliked by dishonest men.“ – Ron Paul The value of silver and gold is given by their own nature Neither gold nor silver has value expressed in other units of account. Their value is expressed directly in their own weights. Everything else that is valuable (other assets, commodities, …

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SOUND MONEY: A BIBLICAL PERSPECTIVE – PART II

April 8, 2019

«Because gold is honest money, it is disliked by dishonest men.“ – Ron Paul The value of silver and gold is given by their own nature Neither gold nor silver has value expressed in other units of account. Their value is expressed directly in their own weights. Everything else that is valuable (other assets, commodities, …

Read More »

“You are known by the company you keep” – EU election campaign

April 4, 2019

With the EU elections fast approaching, this article, written by my dear and long-time friend Natalie Vein, offers a very different perspective. It focuses not on the choices on the ballot, but on the EU voting campaign itself. Most people are fixed on the political show at the front-end of the upcoming election, yet it’s much more enlightening and relevant to look at the actions taken backstage, by the show organizers themselves. 

The article reveals in no uncertain terms the fact that “divide and conquer” lies at the heart of today’s political strategies. It also highlights the irony of the current political messaging line. On the one hand, there are strict limits on what one is allowed to say and to think, restricting conservative viewpoints, as well as the peaceful, democratic

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Sound money: A Biblical perspective – Part I

April 3, 2019

«It is the mark of an educated mind to be able to entertain an idea without accepting it.»Aristotle In today’s world, it is obvious that the competition of ideas is under serious threat and with it, the much-needed discussions on how to deal with certain topics or try to understand the world we live in. …

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Sound money: A Biblical perspective – Part I

April 2, 2019

«It is the mark of an educated mind to be able to entertain an idea without accepting it.»Aristotle In today’s world, it is obvious that the competition of ideas is under serious threat and with it, the much-needed discussions on how to deal with certain topics or try to understand the world we live in. …

Read More »

Merger mania: Consolidation in the gold mining sector

March 27, 2019

Late last year, Barrick Gold, the world’s largest gold miner in terms of reserves, made headlines when it announced its acquisition of Randgold Resources, in an $18bn mega-merger that marked a key moment for the mining industry. In January, United States gold giant Newmont and principal rival of Barrick, made public its own plans to buy Canada’s Goldcorp, the world’s third-largest bullion producer by market value, for $10 billion. The deal, that is largely expected to go ahead and be completed in the next quarter, will result in the creation of Newmont Goldcorp, the world’s largest producer by output, with the capacity to produce up to 7 million ounces of gold annually over the next decade and with operations in

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Merger mania: Consolidation in the gold mining sector

March 26, 2019

Late last year, Barrick Gold, the world’s largest gold miner in terms of reserves, made headlines when it announced its acquisition of Randgold Resources, in an $18bn mega-merger that marked a key moment for the mining industry. In January, United States gold giant Newmont and principal rival of Barrick, made public its own plans to buy Canada’s Goldcorp, the world’s third-largest bullion producer by market value, for $10 billion. The deal, that is largely expected to go ahead and be completed in the next quarter, will result in the creation of Newmont Goldcorp, the world’s largest producer by output, with the capacity to produce up to 7 million ounces of gold annually over the next decade and with operations in South America, Australia and Africa.
Soon after the mammoth deal was

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“Today’s EU is the embodiment of bureaucratic hubris”

March 19, 2019

Interview with Dr. Markus Krall:
When it comes to identifying and evaluating the key vulnerabilities and inherent risks of the banking and financial system, there are few who have the insights and practical experience that is required to truly understand the scale of the issue and its investing implications. This is precisely why Claudio Grass turned to Dr. Markus Krall, who graciously agreed to share his thoughts and observations, as well as his outlook on the future of the financial system and the economy.
Dr. Markus Krall, managing director of the consulting firm goetzpartners, has worked in the financial industry for over 25 years. Over the span of his successful career, he has amassed extensive global experience working with leading international corporations, regulatory bodies,

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Claudio Grass – Sound Money & Human Liberty Are Inextricably Linked

March 7, 2019

SBTV speaks with Claudio Grass, an independent precious metals adviser based in Switzerland. A proponent of sound money and the Austrian School of Economics, Claudio shares his convictions on why human liberty and sound money are inextricably linked.
Discussed in this interview:
02:39 Relationship between liberty and sound money
06:51 Keynesian view of money
09:58 Similarities between Austrian School and Keynesian economics?
14:00 Geopolitical issues clouding the near future
18:08 Hindrance to going back to sound money
23:12 Gold and silver to be monetary metals again?
26:23 Not enough gold to back fiat currencies?
28:08 New monetary system with gold and cryptocurrencies?
31:53 Why hold silver?
34:56 How much longer fiat currency system will last.
Find out more about Silver Bullion:

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ECB: running out of runway – Part II

March 3, 2019

Knock-on effects
Overall, under Mr. Draghi’s watch, the ECB’s balance sheet has ballooned to a previously unimaginable scale and aggressive policies like the extensive QE program and negative rates have encouraged the accumulation of debt and heavily distorted market mechanisms.
Scores of “zombie” companies, that would have otherwise died off without the artificial life support of cheap credit, are now plaguing most major economies. The encouragement and purposeful incentivization of debt over saving or prudent, long-term investing has created a toxic pile of bad loans, of a potentially catastrophic scale. Should a default avalanche be triggered, the already ailing and highly vulnerable banking sector is unlikely to

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ECB: running out of runway – Part II

March 1, 2019

Knock-on effects
Overall, under Mr. Draghi’s watch, the ECB’s balance sheet has ballooned to a previously unimaginable scale and aggressive policies like the extensive QE program and negative rates have encouraged the accumulation of debt and heavily distorted market mechanisms.

Scores of “zombie” companies, that would have otherwise died off without the artificial life support of cheap credit, are now plaguing most major economies. The encouragement and purposeful incentivization of debt over saving or prudent, long-term investing has created a toxic pile of bad loans, of a potentially catastrophic scale. Should a default avalanche be triggered, the already ailing and highly vulnerable banking sector is unlikely to be able to absorb the shock.
At the same time, key European

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ECB: running out of runway – Part I

February 27, 2019

At the end of January, only a month after the official end of the QE program of the European Central Bank (ECB), its President Mario Draghi told the European Parliament’s committee that the central bank could resume its bond purchasing, in a questionable effort to assuage concerns over the impact of the policy change. As Europe’s economy flashes increasingly bright warning signs, doubts are multiplying over the sustainability of the ECB’s plans, the efficacy of its measures and its capacity to support the economy, should another crisis come to pass.

The many vulnerabilities of the European economy
The most recent Euro-area industrial production figures have revealed a very worrying 0.9% drop, more than twice the

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ECB: running out of runway – Part I

February 25, 2019

At the end of January, only a month after the official end of the QE program of the European Central Bank (ECB), its President Mario Draghi told the European Parliament’s committee that the central bank could resume its bond purchasing, in a questionable effort to assuage concerns over the impact of the policy change. As Europe’s economy flashes increasingly bright warning signs, doubts are multiplying over the sustainability of the ECB’s plans, the efficacy of its measures and its capacity to support the economy, should another crisis come to pass.
The many vulnerabilities of the European economy
The most recent Euro-area industrial production figures have revealed a very worrying 0.9% drop, more than twice the forecast in December. On year-on-year basis, the slump has been the worst

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Brexit: A country divided

February 20, 2019

One of the most commonly cited arguments initially against Brexit, and now against a no-deal scenario, is the towering threat of businesses leaving the UK. A great many campaigners and leading figures of the Remain camp have warned voters time and time again of the dangers to British industry and ultimately to their jobs. They will often point to early evidence of such a shift, to companies moving either their headquarters or part of their operations to Germany, the Netherlands or other EU member states. They also like to highlight the concerns of various business leaders that have taken the Remain position, while some have supported the idea of a “People’s Vote”, a second referendum that they hope will reverse the original decision.
The dire warnings and the near-apocalyptic visions

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China: Harbinger of Global Economic Decline

February 13, 2019

The latest numbers released by China’s statistics bureau fueled widespread concerns about the outlook of the global economy, as the Asian superpower reported its slowest growth rate since 1990. The figures showed a 6.6% growth for 2018, confirming the view that the growth engine of the world economy is running out of steam.

Deep-seeded vulnerabilities, far beyond the trade war
China’s weakening growth has been widely attributed to the country’s trade frictions with the United States. To some extent this accurate, as the dispute has burdened both countries with billions of dollars from tariffs and retaliatory counter-tariffs. The 3-month ceasefire that was agreed during the last G20 conference in Buenos Aires is set

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China: Harbinger of global economic decline

February 12, 2019

The latest numbers released by China’s statistics bureau fueled widespread concerns about the outlook of the global economy, as the Asian superpower reported its slowest growth rate since 1990. The figures showed a 6.6% growth for 2018, confirming the view that the growth engine of the world economy is running out of steam.

Deep-seeded vulnerabilities, far beyond the trade war
China’s weakening growth has been widely attributed to the country’s trade frictions with the United States. To some extent this accurate, as the dispute has burdened both countries with billions of dollars from tariffs and retaliatory counter-tariffs. The 3-month ceasefire that was agreed during the last G20 conference in Buenos Aires is set to end in March and if an agreement is not reached by then,

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Crypto-crash: An optimistic post-mortem – Part II

February 5, 2019

Blatant security deficits and rampant fraud
Over the last year, news of crypto hacks and heists became so prevalent that the new breaches were hardly worthy of reporting anymore. Among the headliners, however, was the Coincheck case, the Japanese exchange that lost over $530 million worth of the NEM cryptocurrency, as was Zaif, another exchange also from Japan, that saw $60 million worth of digital currencies vanish. Bancor, an Israeli-Swiss decentralized exchange lost $23 million to a hack this past summer, while BitGrail, a small Italian cryptocurrency exchange lost $170-195 million worth of its customers’ digital assets. All in all, nearly $1 billion was lost to hackers from exchanges and other platforms in just the first nine months of 2018, according to research by blockchain

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Crypto-crash: An optimistic post-mortem – Part I

January 30, 2019

2018 was an Annus Horribilis for the entire crypto industry. Believers and crypto enthusiasts, swept up by the rally of 2017, found themselves on the wrong side of a crashing market. On the right side where the early critics, who were once accused of cynicism and a lack of imagination for calling the crypto market a bubble, and were finally vindicated. 
As the media eventually turned on the sector and gleefully reported on its demise, investor sentiment soured and soon anyone who’d ever even heard of Bitcoin lost interest and faith on all things crypto. It sure seems like the dizzying highs and crypto-craze of 2017 are long gone and unlikely to return. But was it all just a deja-vu of the tulip mania, or was it more akin to the DotCom bubble? In other words, was it all merely a

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Sound Money & Human Liberty Are Inextricably Linked

January 24, 2019

SilverBullion TV speaks with Claudio Grass, an independent precious metals adviser based in Switzerland. A proponent of sound money and the Austrian School of Economics, Claudio shares his convictions on why human liberty and sound money are inextricably linked.
Discussed in this interview:
02:39 Relationship between liberty and sound money
06:51 Keynesian view of money
09:58 Similarities between Austrian School and Keynesian economics?
14:00 Geopolitical issues clouding the near future
18:08 Hindrance to going back to sound money
23:12 Gold and silver to be monetary metals again?
26:23 Not enough gold to back fiat currencies?
28:08 New monetary system with gold and cryptocurrencies?
31:53 Why hold silver?
34:56 How much longer fiat currency system will last.
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As Germany goes, so goes the Eurozone

January 22, 2019

Until recently, Germany has been the seemingly unbreakable workhorse that has pulled the European economy back from the brink and kept it ticking along through a myriad of internal and external pressures, as well as political crises, over the last decade. As the undeniable leader of the bloc, the country has spearheaded and supported rescue plans for the Eurozone’s weaker links, as well as a number of controversial policies that work towards further centralization within the EU. However, with clouds now gathering over Germany’s economic outlook, concerns over potential knock-on effects on the entire monetary union are on the rise.
Falling below expectations
Trade tensions, the threat of a hard Brexit and weaker emerging markets growth have all played a part in dampening Germany’s

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Yellow Vests: Shockwaves felt across the continent

January 9, 2019

When the first demonstrations on the streets of Paris were reported seven weeks ago, nobody could have foreseen the endurance, the tenacity and the viral effect of the Yellow Vests movement. After all, the French are known to protest and to strike, it’s part and parcel of their culture. However, by the time this article is being written, protests, marches and demonstrations have broken out in a multitude of European cities.
Why was it different this time?
To begin with, it is worth taking a closer look at the situation in France, the point of origin of this “contagion”. There are a few very important elements that set the Yellow Vests apart from past protesters. For one thing, unlike previous demonstrations, this one wasn’t led by the unions, nor was it organized by any identifiable

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War is the Health of the State

January 8, 2019

I wrote this article in 2015 – however, I believe it is still relevant, more than ever.
For liberty,
Claudio

Produced and published by Global Gold.
The Misfortune of Being Born Into a State
In an essay titled “The State”, Randolph Bourne, an American writer, made a distinction between a country and a state that I find crucial. He described one’s country as “an inescapable group into which we are born”. In his view, a country is “a concept of peace, tolerance, of living and letting live. But the State is essentially a concept of power, of competition; it signifies a group in its aggressive aspects. And we have the misfortune of being born not only into a country but into a State, and as we grow up we learn to mingle the two feelings into a hopeless confusion”.

Randolph Silliman

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