SNB & CHF

Behind closed doors, the report is already making the rounds in expert circles: if you follow the rules of sound commercial accounting, the United States Federal Reserve (Fed) has lost its equity and is, as common language would have it, bankrupt. What happened? During spring 2020 (i.e., in a period of extremely low interest rates), the Fed purchased large amounts of government bonds and mortgage bonds to support the economy and financial markets during the covid...

The passage of an income tax in the early twentieth century was an enormous shift toward a far more centralized and powerful US state. Original Article: "The Income Tax: Lessons from the Sixteenth Amendment" [embedded content] Tags: Featured,newsletter

To prevent rail accidents like the one in East Palestine, dial back government regulation and allow the tort system to work. Original Article: "Prevent Future Losses Like East Palestine by Reducing Regulation and Empowering Torts" [embedded content] Tags: Featured,newsletter

Mainstream historians attribute the postwar economic success of South Korea and Taiwan to the legacy of Japanese colonialism. The Japanese are credited with providing new technologies, critical infrastructure, and an efficient state that enabled industrial progress in South Korea and Taiwan. Both Taiwan and Korea benefitted from the successful adoption of Japanese technologies and recorded industrial growth under imperial rule. Moreover, during 1913–38, Taiwan and...

Overview: There is a nervousness that hangs over the capital markets. Although US banks shares recovered at the end of last week, many continue to see the sector’s challenges as the harbinger of a dramatic reversal in the Fed’s stance. America’s debt ceiling looms large and could be a few weeks away. China led Asia Pacific bourses higher, and, ironically, its bank shares extended their rally. Japan, returning from last week’s holiday was notable exception. Relative...

The auto market can be challenging and unpredictable, but with the right strategies and insights, automotive business owners can thrive. This article will explore the financial savvy ways to succeed in the auto market, focusing on understanding the current landscape, saving money, using modern financial tools and AI, and navigating warranties and service contracts. By implementing these strategies, automotive entrepreneurs can build a solid foundation for long-term...

Federal laws with acronyms are usually bad news. (Think the USA PATRIOT Act.) The RESTRICT Act is yet another Orwellian proposal in which the federal government assumes ignorance is strength. Original Article: "Disinformation and the State: The Aptly Named RESTRICT Act" [embedded content] Tags: Featured,newsletter

Once the Southern states accepted the Thirteenth Amendment, Lincoln was entirely content for the old Southern elites to resume their positions of power and for many blacks to continue in a condition little better than bondage. Original Article: "Lincoln's Main Target Was "Anarchy" and Secession, Not Slavery" [embedded content]...

The current banking crises have deep roots in US financial history. Monetary authorities have engaged in inflationary behavior for more than a hundred years. Original Article: "A Pyrrhic End to 130 Years of Vicious Bad Money and Banking Crises" [embedded content] Tags: Featured,newsletter

The combination of the US bank stress, the approaching debt ceiling, and the Fed's opening the door to a pause in rates weighed on risk sentiment and dragged the greenback lower. KBW's indices for large and regional bank shares bled 7.4%-8.0% lower last week to cut through March's lows like a hot knife through butter. Still the price action was constructive ahead of the weekend. US Treasury Secretary Yellen warned that the X-date when the government's cash runs out...