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SNB & CHF

Go over ‘Cliff’ to solve fiscal woes – Chandler

GO OVER 'CLIFF' TO SOLVE FISCAL WOES - CHANDLER ANCHOR QUESTION OFF-CAMERA (ENGLISH) SAYING: What's your general take on this whole fiscal cliff matter? MARC CHANDLER, GLOBAL HEAD OF CURRENCY STRATEGY, BROWN BROTHERS HARRIMAN (ENGLISH) SAYING: I think two important points. One is that it's not being imposed on the United States from the outside like it was for Greece or Spain or Portugal or Ireland. This is really, even though we think of it as a fiscal problem, it's really a political...

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01-05-13 Macro Analytics – 2013 THEMES – Charles Hugh Smith

THE FOLLOWING ARE EXPLORED Rising SYSTEMIC FRAGILITY is increasing the odds of an "unexpected" breakdown. it is now reaching a "Threshold of Vulnerability". The FED LOSSES POLITICAL CAPITAL in 2013. We are witnessing a reduced impact of each QE version, Expect Hope to Turn to Fear when this occurs. ECONOMIC STAGNATION and PERMANENT ADOLESCENCE Using the Japanese Model, diminishing opportunities are resulting in new...

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12-22-12 Macro Analytics – RECAPPING 2012 Charles Hugh Smith

As a regular MACRO ANALYTICS Co-Host, Charles Hugh Smith has recorded over 20 session in 2012, each averaging close to 30 slides for over 600 slides and 8-10 hours of viewing. Selecting the highlights is a daunting task.Distilling it down, there are some central messages that are worth taking the time to reinforce. ALL OF THE FOLLOWING ARE EXPLORED It starts with LIVING WITHIN OUR MEANS. The Critical Importance of SOUND MONEY "It is impossible to grasp the meaning of the idea of sound...

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10-30-12 Macro Analytics – LESSONS FROM JAPAN – Charles Hugh Smith

Japan has experienced massive debt buildup, a growing interest payment burden, long term economic stagnation and now an emerging trade deficit. The question posed in this discussion between Gordon T Long and Charles High Smith is: "how has Japan avoided an economc death spiral?". Japan has been a model and case study in stagnation and stimulus spending. Having pioneered ZIRP and Quantitative easing what can we learn from Japan? What are the lessons for the US with a similar...

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10-27-12 Macro Analytics – CONSTITUTIONAL PRESSURES – Charles Hugh Smith

The importance of SOUND MONEY can not be overstated. The principle of sound money is a central pillar in the protection of the public's constitutional rights, the control of relentless government spending and the restriction of political 'reach' and growth of socialist programs. This fundamental guiding tenet was well understood prior to the founding of the US Federal Reserve in 1913 and its modern day foray into untested and unsound money concepts such as ZIRP and Quantitative Easing The...

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11-06-12 Macro Analytics – Triffin’s Paradox – Rule of Law – Charles Hugh Smith

The Triffin's Paradox is a theory that when a national currency also serves as an international reserve currency, there could be conflicts of interest between short-term domestic and long-term international economic objectives. This dilemma was first identified by Belgian-American economist Robert Triffin in the 1960s, who pointed out that the country whose currency foreign nations wish to hold (the global reserve currency) must be willing to supply the world with an extra supply of its...

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