SNB & CHF

Ludwig von Mises published Die Gemeinwirtschaft: Untersuchungen über den Sozialismus in 1922 (translated into English as Socialism: An Economic and Sociological Analysis, 1951). In more than five hundred pages, the most prominent representative of the Austrian school offers a comprehensive and deep analysis of the “socialist phenomenon.” Despite the catastrophes associated with the attempt to install a socialist system, this ideology has lost little of its appeal....

A consensus is being reached even among the official classes: "inflation" has peaked and with that consumer price pressures are going to reverse. That means decelerating price changes and eventually, in some places, falling prices. While this seems like it would be a very positive development, only in a world where all else remains equal. We don't live in that world. Eurodollar University's Money & Macro Analysis Twitter: https://twitter.com/JeffSnider_AIP...

In mid-November, while the whole world was focused on the Ukraine crisis, the US midterms or whatever other “big story” the media decided was more important, a truly momentous shift took place in the global financial system. It might seem like a small step on the surface, but it has the potential to bring about a real and possibly irreversible sea change in the way we use money; or better said, the way it uses us.  As Reuters reported on the 15th of...

Overview: The markets remain hopeful about a re-opening in China and continue to pour into Chinese stocks on the mainland and in Hong Kong. The index of Chinese companies that trade in the US rose nearly 22.4% last week. Large bourses in the Asia Pacific region were mixed, but China and Hong Kong stand out. Europe’s Stoxx 600 is nursing a small loss for the second consecutive session. US equity futures have a slightly heavier bias. European 10-year yields are 2-5...

I'm basically talking to myself...but maybe there's one person who kind of follows what I'm discussing...

The European Investment Bank (EIB) — in collaboration with Goldman Sachs Bank Europe, Santander and Société Générale — launched Project Venus, their second euro-denominated digitally native bond issue and first using private blockchain technology. The €100 million, two-year bond was issued, recorded and settled using private blockchain-based technology, and represents the inaugural issuance on Goldman Sachs’ tokenisation platform – GS DAPTM. Banque de France and the...

Despite a global venture capital (VC) pullback, shrinking valuations and public market turmoil, Germany’s blockchain VC funding market remained stable this year, with companies in the space securing a total of US$218 million across 20 deals year-to-date (YTD), just US$37 million short of 2021’s US$255 million, a new report by CV VC, a Swiss VC and private equity firm specialized in cryptocurrency and blockchain solutions, shows. The German Blockchain Report, released...

They read like Civil War battlefields: Chattanooga, Tennessee; Tuscaloosa, Alabama; Greer, South Carolina; West Point, Georgia; Montgomery, Alabama; Tupelo, Mississippi; Smyrna, Tennessee. They are the towns and small cities in the Deep South where America now builds its cars and trucks. Take Greer, for example (population of thirty-five thousand as of 2020). Located in the foothills of the bucolic Blue Ridge Mountains in the northwest corner of South Carolina, it is...

Total employed workers fell for the second month in a row in November, dropping nearly 400,000 workers below the pre-pandemic peak in February 2020. According to new employment data released by the Bureau of Labor Statistics on Friday, the current population survey shows employed workers fell to 158,470,000 in November, down 138,000 from October’s total of 158,608,000. This continues a nine-month trend in which the total number of employed persons has moved...

There's a battle going on with the labor market data, an unprecedented divergence in statistics. CES or the Establishment Survey suggests one thing about the economy while more and more evidence across the CPS aligns directly against it. The timing couldn't be more inconvenient, implications just massive given where we are. Will policymakers allow themselves to be imprisoned with the one, or have they given more consideration to the other already? Eurodollar University's Weekly Recap,...