SNB & CHF

Welcome to Whose Economy Is It, Anyway?, where the rules are made up and the dollars don’t matter. Or at least that seems to be the view of the Yellen regime. Original Article: "A Bank Crisis Was Predictable. Was the Fed Lying or Blind?" This Audio Mises Wire is generously sponsored by Christopher Condon.  [embedded content]...

The failure of Silicon Valley Bank (SVB) on March 10 was the second largest bank failure in US history. Just two days following SVB’s collapse, Signature Bank joined the record books as the third largest bank failure in US history. First Republic Bank also seemed on the edge of collapse until Bank of America, Citigroup, and other big banks agreed to jointly fund a bailout for it. Major Swiss bank Credit Suisse was also teetering on the brink when it received a 54...

Murray Newton Rothbard, perhaps the greatest enemy of the state in the second half of the twentieth century, would have recently celebrated his ninety-seventh birthday had he lived. Men are not salmon, those unique creatures that swim against the current. Most people “go with the flow” and allow the pace of events to dictate their lives, at least in that few consciously choose to reject the current order of things, declare it to be profoundly wrong, and act on it....

Für den Bundesrat ist der Übernahme-Deal zwischen UBS und Credit Suisse keine Staatsrettung. Dennoch tragen die Steuerzahler mit den Staatsgarantien enorme Risiken. Die Kosten der Schweiz zur Stützung ihres Rufs als Finanzzentrum könnten sich auf 12’500 Franken für jeden Mann, jede Frau und jedes Kind im Land belaufen. Denn um den Notverkauf der Credit Suisse an die UBS abzusichern, hat der Bundesrat zugesagt, bis zu 109 Milliarden Franken zur Verfügung zu stellen....

The Fed is launching a new billionaire bailout designed to keep banks afloat, and the FDIC is promising to back potentially trillions in deposits. The taxpayer will ultimately be on the hook.  Original Article: "Yes, the Latest Bank Bailout Is Really a Bailout, and You Are Paying for It." This Audio Mises Wire is generously sponsored by Christopher Condon.  [embedded content]...

A key principle in understanding Austrian economics is seeing the inefficiency of government spending. In an era of overbearing states and reckless fiscal policy, this principle must be emphasized repeatedly. Politicians might claim the best of intentions when dishing out funds for military defense, social welfare, and public works. Their civil servants might try to realize these plans efficiently and thriftily. However, the very nature of government spending goes...

Overview: The banking crisis is ebbing. The Bank of England and European Central Bank assured investors that the AT1 bonds are senior to equity claims, and Switzerland is a unique case. Bank share indices in the Europe and the US rose yesterday, even though the shares of First Republic Bank fell by 47% yesterday. The $123-stock at the end of last month reached almost $11 yesterday. It is trading around $14.75 pre-market. Global equities are building on yesterday's...

Kayaking, snowshoeing and cross-country skiing are just a few of the winter activities the Swiss are supporting in the Central Asian nation of Kyrgyzstan. The goal is creating new jobs in a country where one in four are out of work. The programme, funded by the State Secretariat for Economic Affairs (SECO) and implemented by the Swiss NGO Helvetas, focuses on the northern mountainous region of Karakol. Local mountain guides, cultural guides and sports teachers are being trained so that they...

Despite slumping markets, the decentralized finance (DeFi) industry continued to grow last year, driven by sustained funding activity and increased user adoption. In 2022, DeFi users growth averaged 44% quarter-over-quarter (QoQ), according to a report by crypto fund HashKey Capital. In Q3 2022, the industry reached a milestone, surpassing the five million DeFi wallet threshold. This growth came amid sustained support from investors in the cryptocurrency sector. In...

If we have learned anything from hundreds of years of government oppression and atrocities, one thing is certain: government isn't our friend. Original Article: "Government Is as Government Does" This Audio Mises Wire is generously sponsored by Christopher Condon.  [embedded content] Tags: Featured,newsletter