SNB & CHF

[This article is excerpted from An Austrian Perspective on the History of Economic Thought (1995), volume 2, chapter 9: “Roots of Marxism: Messianic Communism,” section 3, “The Conspiracy of the Equals.” Inspired by the works of Mably and especially Morelly, a young journalist from Picardy decided, amidst the turmoil of the French Revolution, to found a conspiratorial revolutionary organization to establish communism. Strategically, this was an advance on the two...

In attempting to counter Marxists, some libertarians inadvertently align themselves with statist institutions and support immoral war efforts. This concession to evil contradicts the foundational principles laid out by authors like Murray Rothbard and should be challenged.A couple of months ago, I heard such a naïve perspective from an Argentinian libertarian in an X Spaces, reflective of a broader trend within the libertarian liberty movement. Recent foreign...

Overview: The US dollar is firmer against most G10 currencies to start the new week. The euro is a notable exception. It is only slightly higher but confined to a narrow range around $1.07. On the other hand, most emerging market currencies are firmer, but for a few Asia-Pacific currencies, including those of China, South Korea, and Taiwan. The Mexican peso is consolidating but it is also lower on the day. The tone is largely consolidative. Equities have begun...

Mainstream financial news today is replete with stories about “distress” in the commercial real estate market. But what is the precise nature of this distress, and what implications does it have for those outside of the respective industry or asset class? More importantly, what set of factors contributed to the distress, and what does that say about its potential alleviation?Broadly, “distress” in the commercial real estate context refers to the inability of a...

The international media interest in the Ukraine peace conference is enormous. We give you some insights into the media centre on the Bürgenstock. Watch the video now to find out more! --- swissinfo.ch is the international branch of the Swiss Broadcasting Corporation (SBC). Its role is to report on Switzerland and to provide a Swiss perspective on international events. For more articles, interviews and videos visit swissinfo.ch or subscribe to our YouTube channel: Website:...

Earlier this week, those of us who follow news about the US dollar’s global status noticed numerous claims that the US-Saudi petrodollar agreement had “expired” and that the Saudis would now sell oil for many currencies other than dollars. Some versions of the story even claimed the Chinese yuan would replace the dollar. The reports appear to have originated either in India or in publications that cater to crypto investors. Fervor over the story was large enough that...

Here is a brief insight into the Ukraine peace conference which is taking place today and tomorrow, June 15 and 16, at the Bürgenstock resort in Switzerland. --- swissinfo.ch is the international branch of the Swiss Broadcasting Corporation (SBC). Its role is to report on Switzerland and to provide a Swiss perspective on international events. For more articles, interviews and videos visit swissinfo.ch or subscribe to our YouTube channel: Website: http://www.swissinfo.ch...

Those who have (wisely) not been following the “decolonization” debate may be surprised to learn that decolonizers characterize reason and rationality as cultural constructs that ought to be rejected, as these are said to be “based upon epistemological assumptions deeply rooted in the Western philosophical tradition” and therefore “perpetuate hegemonic thinking.” The decolonizers argue that reason and rationality ought to yield to “other ways of knowing” that are...

Under other circumstances, the softer than expected US inflation readings and the subsequent sharp drop in US interest rates would have weighed on the US dollar. Instead, the greenback managed to do well, especially against the euro, sterling, and Japanese yen. The 0.6% rise in the Dollar Index was the biggest gain in two months. The Fed's hawkish hold, with the median dot shifting to one cut this year from three in March (and last December) means that some other...

Several months ago, I was on a long car trip with my dad, and we listened to a podcast that gave some commentary on the following headlines from the New York Times and the Wall Street Journal: “AI Poses ‘Risk of Extinction,’ Industry Leaders Warn” and “AI Poses ‘Risk of Extinction’ on Par with Pandemics and Nuclear War, Tech Executives Warn.”Obviously, this was in the wake of new AI technologies like ChatGPT and others. This is also not a new issue. In 2017, the Wall...