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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

In defense of Switzerland

9 days ago

Prof. Angelo M. Codevilla
An interview with Prof. Angelo M. Codevilla
Following decades of the propagation of a false historical narrative regarding Switzerland’s role during WWII, an entire generation, especially in the West, has grown up with a distorted version of events, based on unfounded and unsubstantiated claims. To set the record straight, Claudio Grass interviewed Professor Codevilla, whose book “Between The Alps and a Hard Place“, examining the real history of the Swiss in WWII, has made a significant contribution in countering the defamation campaign against the Alpine nation. In it, one can find a detailed examination of this period and an insightful analysis of the relevant historical facts and context,

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All this borrowing to consume is unsustainable and the bill is overdue

10 days ago

INTERVIEW WITH KEITH WEINER
June has been an interesting month for gold, as geopolitical events, market fluctuations and developments on the monetary policy front fueled an exciting ride for the precious metal. As long-term investors with a strict focus on the big picture, short-term moves and speculative angles are largely irrelevant in and of themselves, but they do provide important signals that, without fail, confirm the strategic superiority of precious metals holdings in this highly overvalued and artificially inflated investing environment. As anxiety grows in equity markets and as central banks are once again called upon to add even more fuel to sustain the overstretched bull run, more and more investors seek

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In defense of Switzerland

11 days ago

An interview with Prof. Angelo M. Codevilla
Following decades of the propagation of a false historical narrative regarding Switzerland’s role during WWII, an entire generation, especially in the West, has grown up with a distorted version of events, based on unfounded and unsubstantiated claims. To set the record straight, Claudio Grass interviewed Professor Codevilla, whose book “Between The Alps and a Hard Place“, examining the real history of the Swiss in WWII, has made a significant contribution in countering the defamation campaign against the Alpine nation. In it, one can find a detailed examination of this period and an insightful analysis of the relevant historical facts and context, that allow for a deeper understanding of the topics discussed in the interview that follows.

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All this borrowing to consume is unsustainable and the bill is overdue

12 days ago

INTERVIEW WITH KEITH WEINER
June has been an interesting month for gold, as geopolitical events, market fluctuations and developments on the monetary policy front fueled an exciting ride for the precious metal. As long-term investors with a strict focus on the big picture, short-term moves and speculative angles are largely irrelevant in and of themselves, but they do provide important signals that, without fail, confirm the strategic superiority of precious metals holdings in this highly overvalued and artificially inflated investing environment. As anxiety grows in equity markets and as central banks are once again called upon to add even more fuel to sustain the overstretched bull run, more and more investors seek refuge in gold as they brace themselves for a very bumpy ride

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Gold is the secret knowledge of the financial universe

17 days ago

Interview with Chris Powell
Every seasoned gold investor and every student of monetary history has likely stumbled upon various theories about institutional manipulation of the gold market. While it is true that rarely is there smoke without fire, it is still important to approach this matter rationally and form opinions based on sound evidence and solid research. This is why I have personally been following the work of the Gold Anti-Trust Action Committee Inc (GATA) for quite some time. Their findings, essays and analyses have not only been enlightening, but also allow for a deeper understanding of the gold market. Thus, it was only natural that I jumped at the opportunity to interview Chris Powell, GATA’s

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Gold is the secret knowledge of the financial universe

19 days ago

Interview with Chris Powell
Every seasoned gold investor and every student of monetary history has likely stumbled upon various theories about institutional manipulation of the gold market. While it is true that rarely is there smoke without fire, it is still important to approach this matter rationally and form opinions based on sound evidence and solid research. This is why I have personally been following the work of the Gold Anti-Trust Action Committee Inc (GATA) for quite some time. Their findings, essays and analyses have not only been enlightening, but also allow for a deeper understanding of the gold market. Thus, it was only natural that I jumped at the opportunity to interview Chris Powell, GATA’s co-founder, and discuss with him the past and current state of the gold

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Why the Swiss Voted for More Gun Control

25 days ago

Listen to the Audio Mises Wire version of this article.
On May 19, 2019, Swiss voters approved a new set of gun control restrictions. This newly-approved gun control measure would put Switzerland’s gun control laws in line with European Union standards. Under this new law, military-style, semi-automatic weapons would be heavily restricted, while also tightening up gun registration standards. A few exemptions were made for participants in shooting sports who will still be able to nominally exercise their right to own arms without going through many more hurdles.
Those in the international gun community expressed concern after this vote, where Swiss voters resoundingly cast their ballots in favor of these new regulations by a 64-36 percent margin. Switzerland is commonly viewed as

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INTERVIEW WITH CARLOS A. GEBAUER – PART II

27 days ago

You can’t eat a cake that has not even been baked yet!
Claudio Grass (CG): How do you assess the steps taken so far to fend off the collapse of the pension system, like increasing the retirement age? Do you believe such measures will suffice and how do you evaluate their impact on the citizens’ lives?
Carlos A. Gebauer (CAG): Frankly speaking, measures like increasing the retirement age to extend the period of cash-inflow and abbreviate the time of outpayments or, as an alternative at the other end of a person’s lifetime, shortening the mandatory school period from 13 to 12 years, amount to nothing more than a cosmetic repair and mere window dressing. Mathematics functions adamantly and the numbers continue to paint a very stern picture. Quite simply, once the proportions between the

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INTERVIEW WITH CARLOS A. GEBAUER – PART I

June 11, 2019

“You can’t eat a cake that has not even been baked yet”
For quite some time now, I have been closely following news and reports out of Germany regarding the country’s pension system and the immense pressure it is under, placing those who support it and depend on it at great risk. Germany might be widely celebrated as the economic powerhouse of the EU and as its higher net contributor, supporting countries like Greece and Poland, and yet it would appear that the German state is now struggling to keep the promises it made to its own citizens. Old age poverty is on the rise, while the German pension system is steadily marching towards the edge of a cliff.
To get a better understanding of the factors that led up to this upcoming pension crisis and the systemic flaws that made it

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THE PENALTY FOR SAVING

May 30, 2019

In previous articles, we have outlined in great detail the many faults of the current monetary policy direction of major central banks and the large-scale economic impact of keeping interest rates artificially low. Among the worst offenders is the ECB, that is unapologetically persistent on continuing this exercise in absurdity that are negative interest rates. Over the last few years, the effects of this decision have been felt by pensioners and by responsible, conservative investors, who were forced to increase their risk in order to achieve reasonable returns. However, by now, we start to see the real-life implications and practical consequences of this policy direction affect every single normal citizen with a

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THE PENALTY FOR SAVING

May 30, 2019

In previous articles, we have outlined in great detail the many faults of the current monetary policy direction of major central banks and the large-scale economic impact of keeping interest rates artificially low. Among the worst offenders is the ECB, that is unapologetically persistent on continuing this exercise in absurdity that are negative interest rates. Over the last few years, the effects of this decision have been felt by pensioners and by responsible, conservative investors, who were forced to increase their risk in order to achieve reasonable returns. However, by now, we start to see the real-life implications and practical consequences of this policy direction affect every single normal citizen with a savings account.
Zero interest on savings accounts
Overall, saving

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

May 27, 2019

Economic, social and human cost
Beyond privacy, there is also widespread concern over the economic impact of a fully cashless system. For one thing, as citizens slowly become exclusively dependent on big banks and card companies the systemic risk to the wider economy spikes. But it goes further than that too. Without the option to keep some cash outside the banking system and retain some degree of financial flexibility, banks have the potential to essentially keep their clients hostage. Bail-in scenarios and deposit “haircuts”, allowing distressed banks to directly take funds from their clients’ accounts, a scenario we saw in Cyprus in 2013, are instantly simplified. Good old-fashioned bank runs are all but eliminated as leverage, while policies like NIRP and ZIRP face significantly

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

May 23, 2019

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

May 16, 2019

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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

May 13, 2019

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

May 13, 2019

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”

May 6, 2019

“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

May 2, 2019

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

April 28, 2019

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. …

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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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