SNB & CHF

Following last week’s decisions, which represented a significant blow to the American administrative state, today, the Supreme Court did what was widely expected: rule in favor of Donald Trump in a case related to federal prosecution over January 6. In a 6-3 decision, the court ruled that presidents have “presumptive immunity” for “official acts” while in office.The decision does not necessarily kill the potential for federal prosecution, kicking the question to a...

Robert Reich is on his fifth myth, but so far, he has just been recycling the same progressive talking points in each one. The overall message is that big corporations and the super wealthy wield too much political power and that they shape the law in their own favor, contributing to terrible economic inequality. For Reich, the U.S. economy is a zero-sum game and the people at the top have rigged it so they win and everybody else loses.His solution is strong labor...

The Creating Helpful Incentives to Produce Semiconductors (CHIPS) Act passed by the United States Congress and signed into law by President Joe Biden in August 2022 funds the CHIPS for America Act that was initiated under the 2021 National Defense Authorization Act signed into law by President Donald Trump in January 2021. The 2021 legislation authorized the Department of Commerce, Department of Defense, and Department of State to develop onshore domestic...

Overview: The market feels a bit more at ease after the first round of the French elections that extreme policies will be avoided by an effort to deny the National Rally a legislative majority. French stocks have recouped some of their recent losses and the euro reached $1.0775, its best level since June 13. The yen remains soft after the Tankan survey showed little change but an uptick in capex plans. Outside of the yen and Swiss franc, the dollar is trading with a...

Lew Rockwell has dedicated his life to spreading the ideas of the Austrian School. Today, we honor Lew on his birthday, and it’s only fitting we release the trailer for our new documentary, Playing with Fire: Money, Banking, and the Federal Reserve. With your help, we will release it to the public right before the election.Over forty years ago, Lew visited with Margit von Mises at the Russian Tea Room in New York City with a vision: an institute dedicated to keeping...

This week on Wednesday 26th at around 2:30 of the afternoon military forces in ski masks took Plaza Murillo, the main plaza where the seat of the Bolivian government resides. Actions that at first seemed totally out of the ordinary, actions taken from history books, as a military coup has not happened since the 1980’s. However, the truth of the matter is much more complex than what the official government and international news outlets let on.After irregular military...

Julian Assange’s heroic but tragic life has taken an unexpected turn for the better with his recent liberation through a plea deal with the US government. It must never be forgotten that the Wikileaks founder was a successful publisher and a prized journalist, and yet was at risk of being extradited to the United States to be charged with espionage and imprisoned for life. Though many people around the world have followed Assange’s hardships on and off for more than...

Ludwig von Mises’s life was dedicated to intellectually combating the evils of socialism, interventionism, inflationism, and tyranny. He recognized that it would always be an uphill battle. Easy money creates artificial good times that empower and enrich the political class; cleaning up the mess after that is difficult.The only solution is for the public to understand the game, to be empowered to see past the cheap political rhetoric, and to identify...

In his review of F.A. Hayek’s Constitution of Liberty, Murray Rothbard takes issue with the Hayekian case for freedom, which rests solely on human ignorance. On this view, reason is dogmatic and tends to lead to totalitarianism, with arrogant despots claiming they have the knowledge to rationally and efficiently plan the social order. As Joe Salerno has shown, Ludwig von Mises took a different approach.In contrast to the Hayekian stress on “spontaneous...

Deficit spending is not a growth tool. It is the recipe for stagnation.The latest Congressional Budget Office (CBO) budget and economic outlook estimates show the extent of the challenges of the United States fiscal nightmare.The CBO expects a budget deficit of $1.9 trillion in 2024, a year of alleged robust economic growth and record tax receipts. They expect revenues to reach $4.9 trillion, or 17.2 percent of GDP, in 2024, which will rise to 18.0 percent by 2027...