SNB & CHF

Summary: The increase in the yen’s share of reserves was flattered by the yen’s 9% appreciation. The dollar and euro’s share of reserves were stable. Chinese integration has seen the share of unallocated reserves fall. Starting with Q3 data, (available end of March 2017) will break out the yuan’s share of reserves. The IMF provides the most authoritative data on central bank reserves. The composition is...

20 Minutes. Visa quotas for non-EU workers will rise next year. The increased quotas will include 3,000 B-permits and 4,500 L-permits, 1,000 more than this year. These limits are still lower than in 2014, when Swiss politics turned against the free movement of workers from the EU. 2014 quotas of 3,500 B-permits and 5,000 short-term L-permits, were reduced to 2,500 (B) and 4,000 (L), after a referendum to limit...

Quiet Fascism has no purpose other than to aggregate more power, maintain its secrets and lay waste to anyone who questions its Imperial authority. So my little-visited Wikipedia entry was minding its own business, not bothering anyone, until I dared to criticize the Clinton Foundation. The next day, my Wikipedia entry was taken out and shot by a mysterious “editor.” It was just coincidence, right, that my Wikipedia...

Summary: Regardless of outcome early next week, the High Court’s decision will likely be appealed. The issue is the role of parliament. The greater the role, the greater the risk of a delay, but also a better chance to minimize a hard Brexit. The UK decision to leave the EU has been both a political and economic shock. The near-term focus now shifts to the constitutional crisis that has ensued. The key issue...

Swiss Franc EUR/CHF Overview, October 12 2016(see more posts on EUR/CHF, ) - Click to enlarge FX Rates News that UK Prime Minister May has accepted that Parliament should vote on her plan for exiting the EU stopped sterling’s headlong slide. Sterling had been pounded for roughly 8.5 cents since the start of the month including the last four sessions. The idea that parliament, where the Conservatives enjoy a...

from Dilbert Creator Scott Adams’ blog, Following an excellent post-mortem on the debate (read here), Adams changes tack quite interestingly… I talked to a Swiss local yesterday about American politics. He says everyone in Switzerland is following the race closely. He favors Trump because he thinks Trump would be better for the global economy. I asked if anyone he knows in Switzerland is worried about...

Summary: Sterling’s decline is not longer coinciding with lower rates. Sterling’s decline is boosting inflation expectations. If the inflation expectations are realized (Sept CPI next week), it will quickly erode what ever competitive gains there may have been. Something has changed with sterling. It is not just last week’s flash crash that seems now to be more of a mark down than fat-finger, liquidity or...

Natalie Vein of BFI speaks with Doug Casey Our friend Natalie Vein recently had the opportunity to conduct an extensive interview with Doug Casey for BFI, the  parent company of Global Gold. Based on his decades-long experience in investing and his many travels, he shares his views on the state of the world economy, his outlook on critical political developments in the US and in Europe, as well as his investment...

Escaping the Hurricane BALTIMORE – Last week, we got a peek at the End of the World. As Hurricane Matthew approached the coast of Florida, a panic set in. Gas stations ran out of fuel. Stores ran out of food. Banks ran out of cash. A satellite image of hurricane Matthew taken on October 4. He didn’t look very friendly. Image via twitter.com - Click to enlarge “Evacuate or die,” we were told. Not wanting to do...

ABSTRACT: http://gordontlong.com/Macro_Analytics.htm#Smith-10-12-16 A Follow-up Post to Video: GLOBAL SUPPLY CHAIN: "Don’t ask 'what is being counterfeited, but what isn’t!' " https://matasii.com/global-supply-chain-dont-ask-what-is-being-counterfeited-but-what-isnt/