SNB & CHF

From Section XXIII of “A Letter to Grover Cleveland” (1886).If anything could add to the disgust and detestation which the monstrous falsifications of the constitution, already described, should excite towards the court that resorts to them, it would be the fact that the court, not content with falsifying to the utmost the constitution itself, goes outside of the constitution, to the tyrannical practices of what it calls the “sovereign” governments of “other...

Published in The New York Sun:Central bankers whistle ‘Dixie’ as mark-to-market losses dramatically shrink the banking system’s economic capital.Whistling a happy tune, the Federal Reserve vice chairman for supervision, Michael Barr, recently testified to Congress that “overall, the banking system remains sound and resilient.” A more candid view of the risks would be less sanguine.Mr. Barr reported that banking “capital ratios increased throughout 2023.” He failed,...

Share this article Our special interview on Swiss Wealth Advisor with CLAUDIO GRASS, CEO and Independent Precious Metals Consultant, explores the manner in which astute investors may preserve wealth against the backdrop of debilitating central economic planning and monetary inflation.  Executive Global sit down to discuss macroeconomic trends, precious metals, monetary policy and philosophy with the advisor to affluent institutional and private clients....

Overview: The dollar’s losses scored after yesterday’s disappointing ISM manufacturing report were extended initially in Asia Pacific turnover earlier today before it recovered. The recovery has stretched the intraday momentum indicators, warning against expected strong follow-through dollar buying in North America, without fresh impetus. Amid position adjusting and crosses unwinding, the yen is resisting the dollar’s recovery and is the strongest of the G10...

In 2022, we discussed the market’s deviations from long-term growth trends. That discussion centered on Jeremy Grantham’s commentary about market bubbles. To wit: “All 2-sigma equity bubbles in developed countries have broken back to trend. But before they did, a handful went on to become superbubbles of 3-sigma or greater: in the U.S. in 1929 and 2000 and in Japan in 1989. There were also superbubbles in housing in the U.S. in 2006 and Japan in 1989. All five...

04.06.2024 - The consumer price index (CPI) increased by 0.3% in May 2024 compared with the previous month, reaching 107.7 points (December 2020 = 100). Inflation was +1.4% compared with the same month of the previous year. These are the results of the Federal Statistical Office (FSO).The 0.3% increase compared with the previous month is due to several factors...

The long-term forecast for higher interest rates, according to Treasury Secretary Janet Yellen, makes it more difficult to control US borrowing needs, which emphasizes the significance of raising revenue in the forthcoming budget talks with Republican lawmakers. There is only one problem. She is wrong.According to the Congressional Budget Office (CBO) baseline, which does not assume a single year of recession and already counts with record tax revenues, the 2025...

Scott Galloway, a professor in marketing from New York University and a frequent guest on networks like the execrable CNBC, gave a recent TED talk titled How the US Is Destroying Young People’s Future.With a title like that, you might expect a hard-hitting indictment of the United States regime’s fiscal profligacy, the welfare- and war-state leviathans, and the Federal Reserve’s insistence on robbing Americans by at least 2 percent per year while creating an endless...

Overview: The dollar has returned from the weekend with a better bid tone. It is firmer against all the G10 currencies but the yen, Swiss franc, and Swedish krona, which are marginally firmer. The market seems reluctant to extend the euro or Canadian dollar upticks ahead of the central bank meetings this week, though, ironically, sterling’s 0.25% decline leads the major currencies. Election news is a key driver today. A dramatic victory for the Morena party in...

Tucker Carlson is apparently warming up to Austrian economics and the work of the Mises Institute. In 2019, when he was still on Fox News, he made a quick dig at Austrian economics, and he was critical of “libertarian economics” as recently as December of last year.But Austrian economics and the Mises Institute have come up in his interviews with three different guests over the past few months, and instead of being critical or dismissive, Carlson was open to the...