SNB & CHF

A few days ago, we wrote about a big silver crash. The price dropped around 7.5%. And the basis dropped from around 2% to 0.6%. At the end, we said: “The key question is: what is the follow-through? If the price stays down and the basis goes back up, that will be a bearish signal. If the basis stays down, that means the silver market is markedly tighter at $24.50 than it was at $26.75.” Which this brings us to yesterday’s silver dive. Here’s the graph of the day’s...

Carter vs. Reagan Presidential campaigns in the United States tend to be discouraging affairs, even if one is not a libertarian who has zero expectations that anything good can come from American elections. The old saw that insanity consists of doing the same thing repeatedly and somehow expecting different results applies to presidential campaigns as well as to anything else. For whatever reason, Americans (and especially the American media) seem to believe that the...

Filmmaking doesn’t naturally lend itself to social distancing, meaning the coronavirus is disrupting films worldwide. This is how Swiss directors and the industry have been coping with the situation. After coming to a halt during the first few critical months of the outbreak, the making of the film “Une histoire provisoire” (A temporary story) was recently able to start up again, but under certain conditions. The crew first gathered in Luxembourg to complete the interior...

Swiss Franc The Euro has risen by 0.07% to 1.0779 EUR/CHF and USD/CHF, September 24(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates Overview: The two recent market developments, push lower in stocks, and higher in the dollar is continuing. Tuesday’s gains in the S&P 500 and NASDAQ were unwound on Wednesday and this is helping drag global markets lower. The MSCI Asia Pacific Index fell for the fourth consecutive...

David Gornoski hosts A Neighbor's Choice LIVE 4-6pm EST. Comment below or call in at 727 587 1040.

David Gornoski hosts A Neighbor's Choice LIVE 4-6pm EST. Comment below or call in at 727 587 1040.

The federal government will have more power to approve vaccines and treatments for Covid-19. Keystone / Peter Klaunzer Measures put in place by the federal government to help manage the coronavirus crisis can be officially extended thanks to a decision by parliament. On March 13, the federal government assumed some executive powers that allowed it to enact certain laws and measures to deal with the coronavirus pandemic. With the unanimous decision on Wednesday,...

The “take this job and shove it” exodus is silently gathering momentum. The exodus out of cities is getting a lot of attention, but the exodus that will unravel our economic and social orders is getting zero attention: the exodus from work. Like the exodus from troubled urban cores, the exodus from work has long-term, complex causes that the pandemic has accelerated. These are the core drivers of the exodus from work. 1. labor’s share of the economy has been in...

Anyone who follows Alhambra knows that we keep an eye on the dollar. It is a very important part of our process of identifying the economic environment. A rising dollar, when combined with a falling rate of growth, can be a lethal combination. That was the situation in March and of course during the financial crisis of 2008. So the recent rally is something that has got our attention. For now, though, we don’t see any significant stresses in the system that would...

Interview original date: July 22nd, 2020 Topics: What would happen to the US economy long term if the Dollar is no longer the global reserve currency? US privilege/burden since Bretton Woods. Euro dollar system: what’s wrong with it? Hypothetically, how would it have been better/more sustainable?