SNB & CHF

A recent essay on the Mises Wire triggered quite a bit of discussion among a group of Austrian school economists. Paul H. Kupiec and Alex J. Pollock’s “Who Owns Federal Reserve Losses and How Will They Impact Monetary Policy?” became the focal point for a wide-ranging discussion of monetary issues that got to the heart of our monetary and overall economic future. The Fed Cannot Go Bankrupt The article itself is a fairly straightforward explanation of how the Fed...

Cancel Culture ist ein Phänomen, das viele für eine merkwürdige Besonderheit der akademischen Welt der Anglosphäre hielten. Hin und wieder treibt sie Wurzeln auch in anderen Ländern. Wenn aber irgendeine Region bisher verschont geblieben ist, dann war es wohl Osteuropa, denn sie hat im Laufe ihrer bewegten Geschichte einiges an Totalitarismus und Gesinnungskonformismus erleben müssen. Die Menschen dort haben noch ein ausgeprägtes inneres Frühwarnsystem und sind in...

Investors crave certainty. They want to know that there are definitive signals for them to follow as they adjust their investments to fit the current market and economy. They want to know that A leads to B leads to C. Tea leaf readers are always in high demand on Wall Street and they continue to find employment despite their almost universally dismal track record. In this case, it is demand that drives supply rather than the other way around. The constant demand for...

Since the start of the Ukraine war, Russia has clamped down on critical media and opposition inside the country. Sputnik Russia has threatened Swiss newspaper Neue Zürcher Zeitung with legal action after it published critical reports and a caricature of Russian President Vladimir Putin. In a letter to NZZ editor Eric Gujer published on Saturday on the Russian Embassy in Switzerland’s press service website, it said it was “outraged” by publication of an “insulting...

No One Will Survive This Recession Bear Market Jeff Snider. Jeff Snider is one of the foremost experts on the global monetary system, specifically the eurodollar money system, and all aspects of its misunderstood inner workings and how they impact global markets, commerce, and economy. #jeffsnider#recession DISCLAIMER : I am not a financial advisor. The ideas presented in this video are for entertainment purposes only. You (and only you) are responsible for the financial decisions that you...

The price exchange in the foreign exchange market was a story separate from the macro developments. The euro traded below parity for the first time since 2002. The yen fell to its lowest level against the dollar in 22 years. Sterling, the dollar-bloc currencies, fell to their lowest levels since 2020.  Yes, the stronger than expected rise in the US June CPI, above 9%, helped spur speculation that the Fed could raise rates 100 bp in a couple of weeks. Still, the...

Foreign institutions have been merrily losing money on US Treasury holdings for years, buying high and selling low - are they insane? No, their investment behavior reveals that these bonds are used for managing risk, global systemic risk. ----EP. 262 REFERENCES---- The Rest of the World's Dollar-Weighted Return on U.S. Treasurys: http://www.nber.org/papers/w30089 RealClear Markets Essays: https://bit.ly/38tL5a7 Epoch Times Columns: https://bit.ly/39ESkRf -------THE EPISODES-------...

The US Bureau of Labor statistics released new Consumer Price Index inflation estimates this morning, and the official numbers for June 2022 show that price inflation has risen to 9.1 percent year over year. That’s the biggest number since November 1981, when the price growth measure hit 9.6 percent year over year. The month-over-month measure surged as well, with the CPI measure hitting 1.4 percent. That’s the highest month-over-month growth since March 1980, when...

Brazil is the world’s second-largest producer of soy after the US. Keystone / Andre Penner Six of the world’s biggest commodity traders have committed to help some of their largest indirect suppliers source soy sustainably in Brazil’s vulnerable Cerrado region. On June 21, Viterra (formerly Glencore Agriculture), Bunge, ADM, Cargill, LDC and COFCO – as part of a joint partnership called the Soft Commodities ForumExternal link (SCF) – announced their intention to get...

If there is a mantra among progressive American political and media elites, it would be “our democracy,” usually preceded by what they believe to be a threat from the Right. For example, progressives deemed the recent reversal of Roe “a threat to our democracy” because it removed laws regulating abortion from Supreme Court jurisdiction and returned the issue to democratically elected legislatures. It would seem inconsistent to invoke the democratic electoral process...