SNB & CHF

Last year did not end on a sound note. The initial rebound after 2020’s recession was supposed to be a straight line, lifting upward for the other side of the infamous “V” shape. Such hopes had been dashed, though, and as the disappointing year wound toward its own end yet another big problem loomed. In December 2020, millions of Americans still out of work were going to lose government benefits. The Department of Labor would later tally up the scale of this...

Advocates for vaccine mandates—led by the Biden Administration—are apparently unconcerned that the mandates are likely to drive down total employment and reduce access to government services. In many cases these are the same services that mandate-pushing politicians have always insisted are utterly “critical” and must be expanded. Instead, the party is taking the position that the drive for vaccination must be placed before all other values in society, including...

Josh Jalinski was recently joined by Jeffrey Snider, Head of Global Research at Alhambra Investments. He is not an economist, which is probably why he's been able to develop a working model of the global monetary system. His research is unique and informative in ways an economist would never consider. He joined us to discuss his thoughts on inflation/deflation and our current economic state. #crypto #bitcoin #monetarysystem @Bloomberg Markets and Finance @Forbes @Fox News @Fox Business...

An early-1950s US consumer buying-binge sent the Consumer Price Index soaring. Inflation!? No. It was a transitory supply/demand imbalance brought on by (geo)political factors. The bond market knew it and didn't overreact. And what about the Federal Reserve? They overreacted. ---------SPONSOR---------- Macropiece Theater with Alistair Cooke (i.e. Emil Kalinowski) reading the latest essays, blog posts, speeches and excerpts from economics, geopolitics and more. Interesting people write...

Per Ende des Berichtsmonats lag der Wert bei 922,98 Milliarden Franken, nachdem es Ende September noch 939,29 Milliarden Franken gewesen waren. Der Gesamtbestand der Reserven (exkl. Gold) erreichte Ende Oktober 936,68 Milliarden nach 953,09 Milliarden Franken im Vormonat, wie die SNB am Freitag auf ihrer Internetseite mitteilte. Das ist der erste Rückgang seit Juli. Damals war der Devisenberg um 19 Milliarden Franken geschrumpft. Ob und allenfalls wie stark die SNB...

Viel wurde diskutiert als China das Bitcoin Mining aus dem eigenen Land verbannte. Doch es hat nur wenige Monate gedauert und die Mining Community hat sich von diesem Bann erholt. Daten zeigen, dass nur noch 16 Prozent zum Allzeithoch fehlen. Bitcoin News: Bitcoin Mining Hashrate hat sich fast vollständig erholt China kontrollierte mehr als die Hälfte des weltweiten Mining Marktes – bevor es zu einem landesweiten Verbot für Crypto Mining kam. Es wurde befürchtet,...

Fabio Canetg completed his doctorate in monetary policy at the University of Bern and the Toulouse School of Economics. Today he is a lecturer at the University of Bern and hosts the monetary policy podcast “Geldcast”. swissinfo.ch For years, central banks have been called upon to do more to combat climate change. Now a new monetary policy instrument is being discussed as a way forward. The climate strike is back: Last week, thousands of people demonstrated in Bern...

Thanks to central banks’ easy money policies, historically low interest rates and a desperate search for yield have created new danger zones for investors trying to stay out of trouble. Original Article: “Thanks to Central Banks, the Old Investment Rules Don’t Apply Anymore” Sixty percent equities, 40 percent bonds. What has been considered the golden rule of portfolio theory for decades is of less and less value to investors today. Because central banks have...

Why always round numbers? Monetary policy targets in the post-Volcker era are changed on even terms. Alan Greenspan had his quarter-point fed funds moves. Ben Bernanke faced with crisis would auction $25 billion via TAF. QE’s are done in even numbers, either total purchases or their monthly pace. This is a messy and dynamic environment, in which the economy operates out of seeming randomness at times. Yet, here we have something that is “quantitatively” determined...

The September 2021 reading for America's new orders of durable goods shows stagnation / stalling. It is likely much worse but we won't know it for several years, not until the benchmark revisions are performed. We've seen this before, in 2018. And 2014. And 2012. Don't be surprised this time. A reading, by Emil Kalinowski. ----------WHO---------- Jeff Snider of Alhambra Investments. Read by Emil Kalinowski. Art by David Parkins. Intro/outro is "Alegro" by TAGE at Epidemic Sound....