SNB & CHF

Obsession composition and first lead guitar by charles hugh smith, rhythm and second lead guitar by Jimi Juju.

You Owe Me composition, vocals and lead guitar by charles hugh smith, rhythm guitar, bass, drums and recording engineering by Jimi Juju. You tell me that you can't afford the rent the student loan or your truck I don't care about your problems pal just do what it takes to get me the bucks You owe me You owe me and I'm gonna tell you how it's gonna be You say that you did everything you were told Got your degree and a gig Now you lost your job and can't pay what you owe Because your debt...

With the eurodollar futures curve slightly inverted, the implications of it are somewhat specific to the features of that particular market. And there’s more than enough reason to reasonably suspect this development is more specifically deflationary money than more general economic concerns. What I mean is, those latter have come later (“growth scare”) only long after the world’s real money truly began to dry up. Money then economy. How do we know? For one, sequence...

When the economics profession turns its attention to financial panics and crashes, the first episode mentioned is tulipmania. In fact, tulipmania has become a metaphor in the economics field. Should one look up tulipmania in The New Palgrave: A Dictionary of Economics, a discussion of the seventeenth century Dutch speculative mania will not be found. Guillermo Calvo (1987, p. 707), in his contribution to the Palgrave instead defines tulipmania as: “situations in...

Central banks have come to the fore in recent years by printing money to keep economies afloat. Keystone / Lm Otero Every other month, the world’s most influential central bank governors gather in Basel to swap notes, reinforce personal ties and untangle the technical details of keeping money flowing around the world. Since the financial crisis of 2007-2008, central banks have emerged from dull obscurity to print trillions in multiple currencies. The pandemic has...

According to the US Securities and Exchange Commission, the hacking and insider trading scheme made a total of $82 million from 2018 through 2020. Keystone / Anonymous The Russian businessman extradited from Switzerland to the United States and four other Russians have been charged with carrying out a $82-million (CHF75 million) insider trading scheme using data stolen during hacks of US computer networks. US federal prosecutors in Boston announcedExternal link on...

My immediate reaction to the National Archives’ very limited release of a few of the CIA’s JFK-assassination records is this: I’m not interested in seeing what they’re releasing. I’m interested in seeing what they’re still hiding.  However, there was at least one document that they recently released that is incriminating. It’s a document that the CIA published on the Sunday morning after the assassination. It is entitled “SUMMARY of Relevant Information on Lee...

Seems like ancient history given all that’s happened since, but on October 13 Treasury Secretary Janet Yellen announced a planned deluge of cash management bills in the wake of the debt ceiling resolution (the first one). The next day, China’s currency, CNY, broke free from its previous and suspiciously narrow range. Speculating a connection a few days thereafter, I wrote: …it had been on the 13th when Treasury announced its intention to unleash a CMB (cash...

Jeff Snider joins me for a multi-episode conversation exploring the evolution of money and central banking throughout the 20th and 21st centuries. Be sure to check out NYDIG, one of the most important companies in Bitcoin: https://nydig.com/ GUEST Jeff's twitter: https://twitter.com/JeffSnider_AIP Jeff's writing: https://alhambrapartners.com/author/jsnider/ PODCAST Podcast Website: https://whatismoneypodcast.com/ Apple Podcast:...

In the third quarter of 2021, the current account surplus amounted to CHF 24 billion, CHF 10 billion more than in the same quarter of 2020. The increase was mainly attributable to the significantly higher receipts surplus in goods trade. This surplus was due to traditional goods trade (foreign trade total 1), non-monetary gold trading, as well as to merchanting. Primary income counteracted the rise in the current account balance. While a receipts surplus was...