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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

“We don’t have to behead the king if we can just ignore him” – Claudio Grass

11 days ago

“Negative interest rates are unsustainable and once investors decide to stop paying for the privilege of holding government debt, a banking crisis could result, says James Grant.”
Returning SBTV guest, Claudio Grass, speaks with us about the unsustainable pensions, crumbling fiat currencies and a looming financial crisis in a world of insane central bank monetary policies.
Discussed in this interview:
01:31 A looming global recession ahead?
06:47 Money printing by central banks at its limits
08:18 Governments and central banks are out of control
11:14 Pensions are not sustainable especially with negative interest rates
15:46 No bright future for the dollar and euro
24:03 Lack of gold backing: Cause of economic woes
26:58 Digital world can offer freedom away from

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“We don’t have to behead the king if we can just ignore him” – Claudio Grass

12 days ago

“Negative interest rates are unsustainable and once investors decide to stop paying for the privilege of holding government debt, a banking crisis could result, says James Grant.”
Returning SBTV guest, Claudio Grass, speaks with us about the unsustainable pensions, crumbling fiat currencies and a looming financial crisis in a world of insane central bank monetary policies.
Discussed in this interview:
01:31 A looming global recession ahead?
06:47 Money printing by central banks at its limits
08:18 Governments and central banks are out of control
11:14 Pensions are not sustainable especially with negative interest rates
15:46 No bright future for the dollar and euro
24:03 Lack of gold backing: Cause of economic woes
26:58 Digital world can offer freedom away from centralization
28:50

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QE by any other name

14 days ago

“The essence of the interventionist policy is to take from one group to give to another. It is confiscation and distribution. “ – Ludwig von Mises, Human Action
In less than a year, we have witnessed an unprecedented monetary policy rollercoaster by the Federal Reserve, which began with a momentous U-turn in the central bank’s guidance in January, and has continued to escalate ever since. It is easy to forget that less than a year ago, all official statements and market expectations were aligned with sustained tightening, while repeated rate cuts were considered highly improbable, to say the least. Equity investors were almost coming to terms with the idea of policy normalization and the Fed was seen by conservative market observers and economists as one of the

Read More »

QE by any other name

14 days ago

“The essence of the interventionist policy is to take from one group to give to another. It is confiscation and distribution. “ – Ludwig von Mises, Human Action

In less than a year, we have witnessed an unprecedented monetary policy rollercoaster by the Federal Reserve, which began with a momentous U-turn in the central bank’s guidance in January, and has continued to escalate ever since. It is easy to forget that less than a year ago, all official statements and market expectations were aligned with sustained tightening, while repeated rate cuts were considered highly improbable, to say the least. Equity investors were almost coming to terms with the idea of policy normalization and the Fed was seen by conservative market observers and economists as one of the very few at least

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The Growing Opposition Against the ECB

29 days ago

Few investors and market observers were really surprised when Mario Draghi announced the ECB’s next massive easing package in mid-September. Cutting rates further into negative territory and the revival of QE were largely expected sooner or later, as the “whatever it takes” outgoing ECB President is now faced with a wide economic slowdown in the Eurozone. After all, over the last decade, the ECB has proved to be a “one-trick pony”, with negative rates and bond-buying being used as a cure-all and as the means to reach that ever-elusive 2% inflation target. Thus, the markets had already taken the new intervention for granted and that was reflected in the lukewarm reaction to its announcement. However, what was much less expected was the series of objections,

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THE GROWING OPPOSITION AGAINST THE ECB

October 21, 2019

Few investors and market observers were really surprised when Mario Draghi announced the ECB’s next massive easing package in mid-September. Cutting rates further into negative territory and the revival of QE were largely expected sooner or later, as the “whatever it takes” outgoing ECB President is now faced with a wide economic slowdown in the Eurozone. After all, over the last decade, the ECB has proved to be a “one-trick pony”, with negative rates and bond-buying being used as a cure-all and as the means to reach that ever-elusive 2% inflation target. Thus, the markets had already taken the new intervention for granted and that was reflected in the lukewarm reaction to its announcement. However, what was much less expected was the series of objections, challenges and even

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A buying opportunity in precious metals

October 15, 2019

After a remarkable run over the past few months, gold and silver now appear to have entered a period of consolidation. Many speculators and short-term focused investors have sold their positions fearing a correction, while mainstream market commentators fuel these fears, with analyses that proclaim “the end of the road” for gold and silver.
Of course, nothing could be further from the truth. All the very serious concerns and the fundamental reasons that caused the metals to rise so aggressively in recent months are not only still intact, but they have grown, and spread, and find even more solid footing every time new data comes out of the Eurozone and the US. Recession fears among investors hit an all-time high in mid-September, according to a Bank of America

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A buying opportunity in precious metals

October 15, 2019

After a remarkable run over the past few months, gold and silver now appear to have entered a period of consolidation. Many speculators and short-term focused investors have sold their positions fearing a correction, while mainstream market commentators fuel these fears, with analyses that proclaim “the end of the road” for gold and silver.
Of course, nothing could be further from the truth. All the very serious concerns and the fundamental reasons that caused the metals to rise so aggressively in recent months are not only still intact, but they have grown, and spread, and find even more solid footing every time new data comes out of the Eurozone and the US. Recession fears among investors hit an all-time high in mid-September, according to a Bank of America Merrill Lynch survey, as

Read More »

A turning point in the bond market?

October 2, 2019

We’ve recently seen a lot of coverage and even more “expert analyses” on the state of the bond market, to the extent that the average investor, or the average citizen for that matter, is likely to be overwhelmed and very confused about what it all means. Experts from the institutional side and defenders of the current monetary direction argue that it is all the result of policy choices, that’s it’s all under control and that we really shouldn’t worry about the extreme phenomena and distortions we now see in the debt markets. However, it hardly takes an economist or a monetary policy expert to spot the many faults of this position.
 
Reality check
To strike at the core of this issue, we only need to examine a very basic question: Would you lend me $100 and agree to

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A turning point in the bond market?

October 1, 2019

We’ve recently seen a lot of coverage and even more “expert analyses” on the state of the bond market, to the extent that the average investor, or the average citizen for that matter, is likely to be overwhelmed and very confused about what it all means. Experts from the institutional side and defenders of the current monetary direction argue that it is all the result of policy choices, that’s it’s all under control and that we really shouldn’t worry about the extreme phenomena and distortions we now see in the debt markets. However, it hardly takes an economist or a monetary policy expert to spot the many faults of this position.
Reality check
To strike at the core of this issue, we only need to examine a very basic question: Would you lend me $100 and agree to receive $90 in return?

Read More »

“Our prosperity is temporary and illusory. “ – Jeff Deist

September 23, 2019

As we go through an important paradigm shift in politics, in the global economy, in equity markets, and of course in precious metals too, the fundamental economic principles we used to rely on seem to be increasingly under attack. Central bankers the world over are doubling down on reckless monetary policies, punishing savers and responsible, long-term investors.
In Europe, we have already seen the damage that negative interest rates and protracted QE have inflicted, and will continue to do so, as the European Central Bank recently confirmed its intentions to insist on cheap money policies. Now, as the Fed seems to be going down that same path and as the US President himself is calling for zero and even negative rates, the present challenges for conservative investors are only bound

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Is it platinum’s time to shine?

September 12, 2019

Even with seasoned precious metals investors, it is often the case that platinum gets overlooked, while gold and silver dominate the conversation over which metal affords the best long-term protection of one’s wealth. Nevertheless, platinum has proved to be an excellent store of value, while it also offers a number of interesting advantages as a long-term investment that could play an important part in a conservative and proactive strategy.
Although it might not share gold’s illustrious history, having served as real money for millennia, platinum has certainly earned its place among the best precious metals investment options. Its very name, derived from the Spanish “platino”, translates to “little silver” and already gives some hints as to its past. Having entered the stage much

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Is it platinum’s time to shine?

September 12, 2019

Even with seasoned precious metals investors, it is often the case that platinum gets overlooked, while gold and silver dominate the conversation over which metal affords the best long-term protection of one’s wealth. Nevertheless, platinum has proved to be an excellent store of value, while it also offers a number of interesting advantages as a long-term investment that could play an important part in a conservative and proactive strategy.
Although it might not share gold’s illustrious history, having served as real money for millennia, platinum has certainly earned its place among the best precious metals investment options. Its very name, derived from the Spanish “platino”, translates to “little silver” and already gives some hints as to its past.
Having

Read More »

“The Eurozone faces the worst combination of economic and systemic risk”

September 6, 2019

Eurozone faces the worst combination
Interview with Alasdair Macleod:
The past few months have been an exciting time for gold investors, as the precious metal has seen a spike in demand after serious economic concerns and geopolitical tensions unsettled the markets. Many mainstream analysts have pointed to a number of recent events, from the US-China trade war escalations to the inverted yield curve, to explain the recent gold rally. Although these developments certainly play a part in short-term price moves and are of great interest to speculators, for the long-term investor, who understands the true function of gold and the purpose of their physical precious metals holdings, the bigger picture is much more relevant.
To further examine the implications of this

Read More »

“The Eurozone faces the worst combination of economic and systemic risk”

September 3, 2019

Interview with Alasdair Macleod:
The past few months have been an exciting time for gold investors, as the precious metal has seen a spike in demand after serious economic concerns and geopolitical tensions unsettled the markets. Many mainstream analysts have pointed to a number of recent events, from the US-China trade war escalations to the inverted yield curve, to explain the recent gold rally. Although these developments certainly play a part in short-term price moves and are of great interest to speculators, for the long-term investor, who understands the true function of gold and the purpose of their physical precious metals holdings, the bigger picture is much more relevant.
To further examine the implications of this perspective, I turned to Alasdair Macleod, whose insights

Read More »

THE FED’S CAPITULATION: WHAT IT MEANS FOR GOLD INVESTORS

August 27, 2019

“Perhaps they think that they will exercise power for the generall good, but that is what all those with power have believed. Power is evil in itself, regardless of who exercises it.” – Ludwig von Mises, Nation, State, and Economy

After the Federal Reserve’s monetary policy U-turn earlier this year and the central bank’s decision to cut interest rates for the first time in a decade, mainstream investors and analysts believe that holding rates lower and for longer will help keep stock markets afloat and the economic expansion alive. However, given the actual state of the economy, the fundamentals of most leading US companies, the unprecedented debt burden and spiking geopolitical risks, it is clear that these hopes are more akin to wishful thinking and that

Read More »

THE FED’S CAPITULATION: WHAT IT MEANS FOR GOLD INVESTORS

August 27, 2019

“Perhaps they think that they will exercise power for the generall good, but that is what all those with power have believed. Power is evil in itself, regardless of who exercises it.” – Ludwig von Mises, Nation, State, and Economy

After the Federal Reserve’s monetary policy U-turn earlier this year and the central bank’s decision to cut interest rates for the first time in a decade, mainstream investors and analysts believe that holding rates lower and for longer will help keep stock markets afloat and the economic expansion alive. However, given the actual state of the economy, the fundamentals of most leading US companies, the unprecedented debt burden and spiking geopolitical risks, it is clear that these hopes are more akin to wishful thinking and that the Fed’s easing

Read More »

“More of the same” at the ECB increases gold’s appeal

August 22, 2019

“The intellectual leaders of the peoples have produced and propagated the fallacies which are on the point of destroying liberty and Western civilization.” Ludwig von Mises, Planned Chaos
It took multiple meetings and over 50 hours of official negotiations for EU leaders to reach an agreement on the appointments for the top jobs of the EU and the ECB, but in mid-July the results finally came in. The ECB was particularly in focus, as bad news keeps piling up for the Eurozone economy and markets increasingly look to the central bank for help. Thus, international headlines were dominated by the selection of Christine Lagarde as Mario Draghi’s successor at the helm of the ECB.
Lagarde: A politician in charge of the economy 
Due to succeed Mario Draghi this fall, the

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“More of the same” at the ECB increases gold’s appeal

August 22, 2019

“The intellectual leaders of the peoples have produced and propagated the fallacies which are on the point of destroying liberty and Western civilization.” Ludwig von Mises, Planned Chaos

It took multiple meetings and over 50 hours of official negotiations for EU leaders to reach an agreement on the appointments for the top jobs of the EU and the ECB, but in mid-July the results finally came in. The ECB was particularly in focus, as bad news keeps piling up for the Eurozone economy and markets increasingly look to the central bank for help. Thus, international headlines were dominated by the selection of Christine Lagarde as Mario Draghi’s successor at the helm of the ECB.
Lagarde: A politician in charge of the economy 
Due to succeed Mario Draghi this fall, the ex-IMF chief has

Read More »

New solutions to old problems: The CoreLedger Decentralized Token Economy Operating System

August 13, 2019

“Systems which are in an unnatural state, like our current financial system, only need a push to relax all the accumulated energy and evolve into something new.”
Dr. Johannes Schweifer, Co-Founder and CEO of CoreLedger.

Following the rise and fall of Bitcoin and the crypto rush-and-crash of 2017, words like “blockchain” and “tokenization” have entered the mainstream. However, as most people watching, or even participating, in the crypto-mania didn’t actually have a clear understanding of the basic underlying technologies, their true potential was vastly underestimated by the public. In contrast to what most observers believed then, and many still do, the revolutionary power of decentralized systems extends far beyond just digital currencies, that are just one among a multitude of

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“THE BIGGEST PROBLEM IS THE DEBT PROBLEM” – INTERVIEW WITH H.S.H. PRINCE MICHAEL OF LIECHTENSTEIN (PART II)

August 8, 2019

“Like medieval alchemy that failed to turn lead into gold, today’s easy-money folly of central banks and governments will lead to crisis, not economic growth and prosperity.” – H.S.H. Prince Michael of Liechsteinstein

Claudio Grass (CG): Despite its formidable tradition and the “Old-World” heritage that Liechtenstein was founded upon, the tiny principality has been incredibly agile and efficient in embracing and fostering entrepreneurship, innovation and new technologies, the most recent example being the support for blockchain and crypto-related businesses. Overall, what are the main benefits derived from embracing rather trying to stifle and control innovative ideas and new technologies?
H.S.H. Prince Michael of Liechtenstein (PML): Society, as well as nature, is in a constant

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“THE BIGGEST PROBLEM IS THE DEBT PROBLEM” – INTERVIEW WITH H.S.H. PRINCE MICHAEL OF LIECHTENSTEIN (PART I)

August 6, 2019

“In fact, it is easier for governments to control the spending of people in debt than those with savings. A person with financial resources is free, while debtors are hostage to their creditors.”H.S.H. Prince Michael of Liechtenstein

The rare resilience and the economic and strategic prowess of the Principality of Liechtenstein have elevated the small alpine nation to a bright example internationally in terms of prudent governance. It offers countless lessons in long-term planning, in prioritizing liberty and property rights over state dominance and its success story provides compelling proof that models based on individual rights and freedom of choice, so often dismissed as unrealistic by modern critics, can and do work. In fact, in the case of Liechtenstein, it works a lot better

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THE ROAD TO SERFDOM – BY THE EXAMPLE OF VENEZUELA – PART II

July 25, 2019

“Inflationism, however, is not an isolated phenomenon. It is only one piece in the total framework of politico-economic and socio-philosophical ideas of our time. Just as the sound money policy of gold standard advocates went hand in hand with liberalism, free trade, capitalism and peace, so is inflationism part and parcel of imperialism, militarism, protectionism, statism and socialism.”
Ludwig von Mises, On the Manipulation of Money and Credit, p. 48

Claudio Grass (CG): We have all seen the striking photos of basic necessities and groceries next to the mountains of cash needed to purchase them and the devastating effects of hyperinflation in the economy are well documented. A rise in physical gold hoarding has also been documented among the citizens. Was gold always part of the

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The Road to Serfdom – by the example of Venezuela – Part I

July 23, 2019

“Venezuela is the current poster child of interventionist failure”
When looking at the quality of the media coverage of Venezuela’s crisis and the interpretations of the factors that caused it, the superficiality of most analyses quickly becomes apparent. The explanations offered by many “experts” and commentators largely ignore the country’s history and fail to take into account the pre-existing political and economic dynamics that heavily contributed to, if not predetermined, Venezuela’s current predicament.
To understand these factors and the long road that led to the present crisis, I turned to José Niño, a Venezuelan-American writer, political operative and policy analyst, whose extensive research and deep understanding of the country’s history have armed him with the right tools

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The Swiss Legacy In Direct Democracy Is Exceptional

July 18, 2019

Produced and published by Global Gold.
Our readers probably realize by now, what a proud Swiss fellow I am, and how I take every possible opportunity to argue how Switzerland presents itself as a role model to achieve radical decentralization and respect for civil liberties. It also assures the right of self-determination in an environment where municipalities, cities or smaller states are in competition with each other and, by doing so, limiting the power of politicians. I was particularly intrigued by the comparison made by Rahim Taghizadegan, a polymath I very much admire, in a lecture titled “The Lebanon – A Switzerland of the Near East” that was given at the last Property and Freedom Society conference of Hans-Hermann Hoppe. Having lived in the Middle East, particular in Tiberias

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The Swiss Legacy In Direct Democracy Is Exceptional

July 18, 2019

Produced and published by Global Gold.
Our readers probably realize by now, what a proud Swiss fellow I am, and how I take every possible opportunity to argue how Switzerland presents itself as a role model to achieve radical decentralization and respect for civil liberties. It also assures the right of self-determination in an environment where municipalities, cities or smaller states are in competition with each other and, by doing so, limiting the power of politicians. I was particularly intrigued by the comparison made by Rahim Taghizadegan, a polymath I very much admire, in a lecture titled “The Lebanon – A Switzerland of the Near East” that was given at the last Property and Freedom Society conference of

Read More »

In defense of Switzerland

July 7, 2019

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

July 6, 2019

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

Read More »

In defense of Switzerland

July 5, 2019

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.

Read More »

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

July 4, 2019

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

Read More »